Another Potential Decision Point for USDCAD
After yesterday's prediciton of a strong bear following the breaking of the resistance at 1.3408,
we can already see a bit of consolidation happening at the next retracement level.
Based on weekly technical data and moving averages , I suspect a bullish bounce back -
at least until the next retracement level.
That said, we are not paying per entry order so be sure to account for both scenarios.
Wait for the market to make a move and be ready for another big play.
we can already see a bit of consolidation happening at the next retracement level.
Based on weekly technical data and moving averages , I suspect a bullish bounce back -
at least until the next retracement level.
That said, we are not paying per entry order so be sure to account for both scenarios.
Wait for the market to make a move and be ready for another big play.
Comment:
As we can see by the real-time action of the market since this was posted, it is clear that the alternative order would have worked in your favor as the pair dropped to the next retracement level perfectly. We can now see some consolidation occurring.