Trading2ez

USD/CAD could MOVE UP!

Long
FX:USDCAD   U.S. Dollar / Canadian Dollar
Hey tradomaniacs,

USD/CAD could break its resistance at 1,27700 and move up❗️


Technical aspects:

1️⃣ Three false breakouts below Key-Support-Zone

2️⃣Violation of upper Trendline / Breakout Trendchannel

3️⃣ 5-Wave-Pattern completed with weak steepness

3️⃣ Tripple-Bottom with bullish divergence MAC-D and RSI

4️⃣Previous strong sell-volume without bearish impact instead strong momentum to the upsside showing Stop-losses triggered


Correlations:

1️⃣Crude-Oil falling which means less demand in CAD

2️⃣DXY (US-DOLLAR-BASKET) rising due to risk-off-mood in the market

3️⃣S&P500 as expected rejected off Trendline and tends to correct





LEAVE A LIKE AND A COMMENT - I appreciate every support! =)



Peace and good trades
Irasor

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Comments

Great set up dude!
+1 Reply
Keep up the good work!
+1 Reply
Trading2ez Investroyllc
@Investroyllc, thanks bud =) I will!
Reply
Nice one mate, I always like your work
Reply
Trading2ez Dave-FX-Hunter
@Dave-FX-Hunter, thank yoU! =)
Reply
excellent analysis mate!!
Reply
Trading2ez Rye_Zen
@Rye_Zen, thanks bud =)
Reply
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