selfrighteousgambler
Short

USDCAD POTENTIAL SHORT @ ~1.26000

FX:USDCAD   U.S. Dollar / Canadian Dollar
USDCAD             has been consolidating in a descending triangle similar to the EURJPY             one that was broken out of last week.

The descending triangle suggests a break down of prices.

There is an overlap of intermediate supply zones and the downward sloping trend line which suggests confluence and gives confidence in the play.

Price should break out strongly out of the multiple-tested support at ~1.24000

A strong intermediate demand zone @ ~1.21000 is a good place to take profit of 500 pips.

Price is likely to fall further than 1.21000 but may see a bounce back up to ~1.24000 to test the new resistance area . before heading off.

Trades can be made to catch the bullish counter-trend swings in this move.

This is going to be greatly affected by Friday's news.
English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体
台灣
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out