darcsherry
Short

USDCAD | WEEKLY FORECAST

FX:USDCAD   U.S. Dollar / Canadian Dollar
As the Greenback appears to be losing steam across major pairs; A Breakdown of our Key level (1.35500) last week is a significant Bearish signal for us.

Tendency: Downtrend ( Bearish )
Structure: Break-down | Support & Resistance
Observation: i. . 786 retracement of the most recent Bearish Impulse leg culminates at 1.37000 followed by a Bearish momentum.
ii. The Bearish momentum which started last week finally breaks our key level @ 1.35500 which also coincides with a Breakdown of our Bullish Trend .
iii . Expecting a further rally to the downside in the following week(s) with a 1.414 extension target.
Trading plan: SELL confirmation with a minimum potential profit of 350 pips.
Risk/Reward: 1:3
Potential Duration: 4 to 8 days

NB: This speculation can be considered to make decisions on lower timeframes.

Watch this space for updates as price action is been monitored.



Nirvana! Forex
Risk Disclaimer:
Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published byme for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and NFTI takes no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
NFT&I does not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.

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