TradeYodha
Short

Massive short opportunity waiting for USDCAD (F

FX:USDCAD   U.S. Dollar / Canadian Dollar
@TradeYodha
TradeYodha.com
(Just my ideas, do you own analysis)

Possible USDCAD             Counter-Trend Short Opportunity

1. it is massively over bought in all time frames
2. Monthly chart is reaching a previous structure where we can see a good retrace/reversal
3. On Monthly chart it has just touched 200 SMA which can make it bounce to the down side. 10 SMA and 50 SMA are lagging behind which may attract the price to themselves.
4. 200 SMA is close to previous structure and 0.886 level
5. Need to wait for a confirmation such as RSI divergence & Double top before we can short this.
6. Massive R/R ratio
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