USD/CAD in Descending Triangle again!
Hey, I am back with another Forex chart, today looking at USD/CAD pairs.
As I said on Monday, I will from now on post a daily analysis each working day for Forex pairs, so don't forget to follow me for more!
Some boring words.
Major pairs have seen today strong moves as DXY has been showing some red moves so it's not that easy to find a good trade, because most USD pairs have turned their Daily EMA trend into uptrend and shorting them would not be the best idea, only as a Pullback short and I am definitely not going to FOMO into a green candle.
Okay, but now about USDCAD.
USD/CAD is in a descending triangle while in daily EMA's downtrend, this is a bearish formation confirmed by a Daily EMA's, best entry would be at the downtrend line, if the downtrend line gets broken, I will post an update.
Again, risk reward higher than 3:1 as I like to trade.
Don't forget to follow me, to not miss out on a good trade opportunities😉
Each "agree" is very much appreciated! 🙌
As I said on Monday, I will from now on post a daily analysis each working day for Forex pairs, so don't forget to follow me for more!
Some boring words.
Major pairs have seen today strong moves as DXY has been showing some red moves so it's not that easy to find a good trade, because most USD pairs have turned their Daily EMA trend into uptrend and shorting them would not be the best idea, only as a Pullback short and I am definitely not going to FOMO into a green candle.
Okay, but now about USDCAD.
USD/CAD is in a descending triangle while in daily EMA's downtrend, this is a bearish formation confirmed by a Daily EMA's, best entry would be at the downtrend line, if the downtrend line gets broken, I will post an update.
Again, risk reward higher than 3:1 as I like to trade.
Don't forget to follow me, to not miss out on a good trade opportunities😉
Each "agree" is very much appreciated! 🙌
Comment:
Take profit hit, +80 pips ✅
Trade closed: target reached