Hello everyone! I want share my idea about USDCAD pair which is at really good LVL to see that will happen.
Last of the week we saw some divergences on DXY and also we see divergence on this pair too.
Trend is pretty bearish and its going so strong down. after touch daily support it broke 4H resistance at 1.318 and closed market when it was retesting that.
My price prediction is long to trendline, because we have strong divergence and reversal movement on dollar index too (I will link in this post my DXY price prediction) if dollar index will continue bullish trend I think on that pair will see bullish trend.
For that I have 2 scene of price movement which is completely possible to happen.
Bullish scene- go up 1.31 LVL strong brake down trendline, then big resistance at 1.327, retest that and on the retest I will open my long position.
Bearish scene- it will continue downside movement, will brake 1.318-1315 support and fall on weekly support which is at 1.298.
With my strategy I need to to find swing high and open my position, but here is more important what market tell us.
Be Patient!!!!!
Last of the week we saw some divergences on DXY and also we see divergence on this pair too.
Trend is pretty bearish and its going so strong down. after touch daily support it broke 4H resistance at 1.318 and closed market when it was retesting that.
My price prediction is long to trendline, because we have strong divergence and reversal movement on dollar index too (I will link in this post my DXY price prediction) if dollar index will continue bullish trend I think on that pair will see bullish trend.
For that I have 2 scene of price movement which is completely possible to happen.
Bullish scene- go up 1.31 LVL strong brake down trendline, then big resistance at 1.327, retest that and on the retest I will open my long position.
Bearish scene- it will continue downside movement, will brake 1.318-1315 support and fall on weekly support which is at 1.298.
With my strategy I need to to find swing high and open my position, but here is more important what market tell us.
Be Patient!!!!!
Comment:
We are waiting brake trend line and resistance LVL
