pardeepk
Short

Short on USD/CAD?

FX:USDCAD   U.S. Dollar/Canadian Dollar
29 2 0
Strictly from a technical analysis view, supply seems to overwhelm the demand and it looks like this pair is going to go down. Buyers came in and pushed prices up to enough supply and now it seems like the bears are taking control.

There is definitely a chance that this is wrong but there is a good risk:reward of 3:1 set none-the-less.

Input is appreciated
dojitrader
2 years ago
Other than some divergence in the RSI
I'm curious what makes you think that supply
is overwhelming from this chart ?
Thanks for your thoughts !!!!
snapshot
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pardeepk dojitrader
2 years ago
Thanks for the reply, if anything, price is at a resistance point so there is obviously a chance of a breakout higher. I think that price is struggling at the resistance, thus maybe the bears are taking control. However, I could most likely be wrong and this is just my opinion. Thank you!
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