Friday's strong CAD news impacted on this pair pushing it almost 300 pips down. The pair has broke the Daily support.
Investors move on the basic psychology bias of fear so I believe that most USD holders of buys will close their positions.
This will impact to more bearish pressure for this pair completing so the correction for the last months' bullish move.
However, there are levels of importance which have acted as support + the green trendline+Fibo Level that have created good demand zone.
At these key levels, there must be price orders for longs.
So, I am waiting patiently for price to move down there and initiate the trade.
GL!
Investors move on the basic psychology bias of fear so I believe that most USD holders of buys will close their positions.
This will impact to more bearish pressure for this pair completing so the correction for the last months' bullish move.
However, there are levels of importance which have acted as support + the green trendline+Fibo Level that have created good demand zone.
At these key levels, there must be price orders for longs.
So, I am waiting patiently for price to move down there and initiate the trade.
GL!