USDCAD ANALYSIS

USDCAD

NOTE: (MARKET IS REACTIVE AND NOTE PREDICTIVE)
(LIKE AND COMMENT BELOW TO SHARE IDEAS TO SUPPORT )
From a daily perspective we can see price has been ranging.

A possible bullish flag is in formation taking on short impulse and correction moves.

In this type of scenario, price is expected to make an explosive move to the direction its coming from.

REMEMBER: MARKET IS REACTIVE AND NOT PREDICTIVE.

If price can push through the resistance zone we can see a retest to the resistance box turned support.

Market moves in waves hence we can see a pictorial movement of price with the arrows

Reason why price can make such move to the upside with over 900 pips given is because of the ranging pressure .

Monitor this pair from a 4Hour perspective for entries.

If you have any suggestion, drop in the comment section below.

Comment:

Hello traders, from the analysis we see adapting to market condition is what we do.
The price never reached the level initially illustrated.
Price bounced off a strong resistance.

Feel free to like, share and drop a comment below.

Order cancelled:

FROM THE CHART PRICE NEVER REACHED THE LEVEL TO INITIATE A LONG POSITION