IvanLabrie
Short

USDCAD: Fundamental shockwaves and bearish setup

FX:USDCAD   U.S. Dollar / Canadian Dollar
Analysis on chart.
We've reached the time at mode uptrend targets, but there's still time left in the 16 bar uptrend.
The news events this week are potentially devastating for the USD longs, so I'll be looking to go short asap             depending on the price action around said events.
I'll update once I pull the trigger.
Good luck,
Ivan.
Going long, low risk entry:

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AndyM IvanLabrie
oh maaaannnn...
+1 Reply
What? Don't like it? ;)
Let's see what Yellen does for us today.
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No no, everybody's free to do whatever...
I'm just not a fan of going long in the 5th of the 5th of C of C ))))
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Hey, it's a 5th up.
I'll take the pips.
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Today's setup:

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thanks jvan
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If you're interested Ivan, the pound is showing weakness this morning and GBP/CAD almost just reached 2.0.
Having the CAD data coming out today i would guess bulls are taking profit and that pair should be a shorting opportunity along with USDCAD.
cheers!
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It should, but I think usdcad might move faster.
Let's watch both.
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I think Crude is working a double zigzag with a flat in B of C. CAD might be doing the same, so there might be a risk of an upswing in it later. What makes me think the down movement in Crude is incomplete is the lack of decisive final impulse down. I see an attempt to go up, but I don't see the definitive completion of the movement down. This means there is some premature bullish mood in the crowd which hasn't been punished yet by the market and it will eventually be addressed.
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