USDCAD: Bearish sentiment/potential buys?
USDCAD could further move downwards (bearish) with the overall sentiment still being BEARISH especially with the dollar index (USDx) still being BEARISH.
We could see price move down into the ORDER BLOCK (fair value gap on the daily timeframe) or potentially the BULLISH TRENDLINE that ranges from price level 1.31420 down to price level 1.30560 with price level 1.29470 serving as a potential STOP, as these levels could provide some sort of SUPPORT for the market as the market trend on the monthly timeframe still remain BULLISH.
The buys on these levels doesn't occur except we can confirm for sure that we could buy because we all use different modes and strategies for entries and exiting our trades.
We could see price move down into the ORDER BLOCK (fair value gap on the daily timeframe) or potentially the BULLISH TRENDLINE that ranges from price level 1.31420 down to price level 1.30560 with price level 1.29470 serving as a potential STOP, as these levels could provide some sort of SUPPORT for the market as the market trend on the monthly timeframe still remain BULLISH.
The buys on these levels doesn't occur except we can confirm for sure that we could buy because we all use different modes and strategies for entries and exiting our trades.
Trade active
Trade closed: target reached
