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MoolahMaker

USD/CAD - 200 Pips Short Opportunity

Short
U.S. Dollar / Canadian Dollar (FX:USDCAD)  
MoolahMaker Updated   
FX:USDCAD   U.S. Dollar / Canadian Dollar
Technical Indicators Chart Patterns Beyond Technical Analysis USDCAD usdcadshort usdcadforecast usdcaddaily usdcadsell usdcadanalysis usdcad4hr usdcad1hr usdcadweekly
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indicator chartpattern beyondta usdcad usdcadshort usdcadforecast usdcaddaily usdcadsell usdcadanalysis usdcad4hr usdcad1hr usdcadweekly
NFP results for USD were not good today and employment change results in CAD was better than expected.

It is very possible USD/CAD is now in a short trend as indicators and candlesticks indicates.

If the 200 EMA is broken, then it's going to go down until it finds support and the trend changes.
Comment:
snapshot
Bearish trend on the daily on USD/CAD is still present. We can keep shorting this currency pair until signs of reversal. Short with care as we're getting close to 1.24-1.2460 support area for a reversal.
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