USDCAD Out of steam? @1.44454 Short

U.S. Dollar/Canadian DollarFXCM

Description

⋅ Jan 21, 2016 1:31 PM

The pair is at a crucial point from what I have studied.
1. On the verge of braking a monthly trend.
2. On the verge of braking weekly support.
3. Completion of 5 waves, perhaps the C Correction wave maybe part of a 3rd wave of a new sequence?
4. Momentum on MACD looking bearish

Short @ 1.44467
Target @ 1.39867 (~450 Points)
Stop @ 1.45446 (100 Points)

Any views? Recommendations?

Comments

LukaszMosinski

⋅ Jan 22, 2016 1:34 PM

Looks more agresive that you expected. For me it is good. Waiting for 1.37.

moemia

⋅ Jan 22, 2016 2:46 PM

Already over 300 points into the trade. Looks better than expected, perhaps yesterdays oil reserves pushed the CAD higher?