I am taking a long position in USDCAD as we saw it recently form a cup and handle pattern which is a continuation pattern. As we saw previously there is a bullish trend before the cup and handle pattern so we expect it to continue after the formation of the pattern. As we have seen how beautifully it is going up the same length from the middle of the cup after the formation of the pattern
As we draw Fibonacci support it is taking support of 0.63 which is a golden ratio of retracement
If we see Dial Indicator which is telling us there is a huge sale at the moment so we need to purchase the fear & sell the greed
Let's see what happens next
As we draw Fibonacci support it is taking support of 0.63 which is a golden ratio of retracement
If we see Dial Indicator which is telling us there is a huge sale at the moment so we need to purchase the fear & sell the greed
Let's see what happens next