It´s in accumulation phase buy low of the range or breakout.

Hi Traders, this is my plan for this pair, if the all conditions will be met I will enter (or might not). Make sure you follow me all updates will be shared here from opening until the close of the trade. Don´t hesitate to comment with any questions and hit like for the support.

Reason: USD even the weak NFP data or unlimited QE will not make it weak in the current world situation its reserve currency which will most likely strengthen in time like we face now. The Bank of Canada has cut the rates again and the Canada is very exposed to the global trade which is completely down due to the COVID19. COT the hedge fund has reduced the shorts positions on the USDCAD and it flipped to the positive net positions numbers 4 weaks ago.

Technical: Price is moving in the channel and its in the accumulative wave 4, I will be looking to enter with buy limit or buy stop on the sharp break.

FX Hunter Strategy is based on mainly watching the big picture of overall world economy and dividing the FX pairs in to couple baskets.Following the volume of big players (COT by CFTC) and tick volume helps to see what the market movers are doing. Parallel channels, Supply / Demand and Market Profile are used to determine levels of interest for the trading. Slight usage of Elliot waves for the market structure.

Comment:

Still waiting no order in the platform yet. Alarms are set

Trade active