Daily Trend: Range
4H Trend: Uptrend
Analysis: USDCAD rallied last week and has now reached a large daily starting @ 1.31550. In the process it has formed demand zones. Since we are in a range on the , it is always advantageous to trade the extremes and ignore the chop in the middle.
Prediction: Overall my bias is to short 4h Supply @ 1.32523 and/or 1.32523.
Price Points of Interest:
4h Supply @ 1.32523
4h Supply @ 1.31655
4h Demand @ 1.30214
This analysis is meant to be educational, inspirational and confirming of your own analysis. Trade carefully, trade wisely by managing your risk exposure.
Will look to short 1.32523 4h supply.