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VanSteenMarketResearch

[USD/CAD] Potential scenario

U.S. Dollar / Canadian Dollar (FX:USDCAD)  
VanSteenMarketResearch Updated   
FX:USDCAD   U.S. Dollar / Canadian Dollar
Trend Analysis Chart Patterns dollar CAD shortselling currency Forex shortposition longtermanalysis technicals
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trendanalysis chartpattern dollar cad shortselling currency forex shortposition longtermanalysis technicals
Momentum up is not that strong, resistance is quite strong which means price is likely to reject and drop off.

This is what might happen:


- Price goes to 1.31
- Rejects at 1.31 and goes to 1.30, then 1.29 and further target to 1.275.
Comment:
snapshot

Current indecision around the 1.30 level.

Looking for a US session bull move
Comment:
snapshot

Price is at a critical level now. If price breaks the lows we have got a bearish view on this. and if that happens, we might see the same sell off but then without a move to 1.31 and maybe targets directly towards 1.275.

Something like this

snapshot
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