USD/CAD could MOVE UP! Long
U.S. Dollar/Canadian DollarFXCM
Description
⋅ 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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