TanayUK
Short

USDCAD SHORT: Technical

FX:USDCAD   U.S. Dollar/Canadian Dollar
USDCAD             is overstretched to the upside.

On the 4H chart, it is outside 800 period Bollinger Bands .

Furthermore, there is divergence towards the 1.34 level, suggesting momentum of the upward move is slowing.

I expect a pullback on this pair, especially as oil             appreciates back to the $50 level, to 1.32.

Below 1.32, strong support should be expected at 1.30.

Risks, of course, are a hawkish FOMC statement (largely priced in) and a Trump win (not priced in).
Trade closed: target reached: Done
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out