Carl_G
Long

U.S Dollar/Canadian Dollar Daily Analysis

FX:USDCAD   U.S. Dollar/Canadian Dollar
U.S Dollar/Canadian Dollar might very possibly be up for a price flip as T.D Combo completed its countdown in to a demand zone this week, which is lining up with the MIDAS support curve. Momentum have created a divergence to the upside as it remains flat in oversold territory, (while price is making lower lows) indicating that a change in price is about to occur. Further indications of a potential price flip is found in the correlation with oil             , as the price of oil             is approaching supply.

Trading Plan: Wait for price to take out major high on the lower time frame before going long, this have to occur within the maximum range on reversal (displayed on the chart). If price exceeds that range and close below it, then the downtrend remains intact.
MIDAS Trading Tools for MT4 is available to download at https://www.mql5.com/en/market/product/17546#

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