USD/CAD - Riding the USD wave

FX:USDCAD   U.S. Dollar/Canadian Dollar
50 1 1
Macro Trend : Bullish , Interem Trend : Bullish , Micro Trend : Bullish .

This is looking to come into resistance this week headed higher. The EMA's on the daily, 4 hr             and 1 hr             aren't too far separated. This could be a nice set up for a move higher if the support is broken. Stochastics on the daily are overbought but ADX isn't too high, 4 hr             are giving a sell signal and ADX is around 30 headed sideways and 1 hr             is headed lower from a sell signal and ADX is following lower as well. Looks like the resistance zone might be coming into play and a slowdown is coming. After a decent slowdown/retracement, consider a bullish position if everything lines up.

A bullish trigger would be : 1.31314, stop is 1.27014 and target is 1.39678 currently.

The stop will need to be adjusted if the trade is taken. BB would need to be considered if trade is taken. Currently it's sitting where I think a bounce off resistance would mean it was a consolidation.
2 years ago
just take serious care at 1.320
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