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VasilyTrader
Aug 17, 2019 3:56 PM

USDCAD Update for next week Short

U.S. Dollar/Canadian DollarFXCM

Description



this is the updated analysis on USDCAD.
in my last trading idea, I was looking for a bearish violation of a neckline of H&S pattern.
now the pattern is invalid, but the market has set the lower high.
Again, it is a very good indication of a weakening bullish momentum.

Your plan for next week:
Wait and sell bearish breakout of a bear flag.
T1 - 1.315
T2 - 1.305

(previous analysis on usdcad below in related ideas)
Comments
Skender10
nice1. its also .618% and Weekly 50 sma
VasilyTrader
@Skender10, yes bro, I have noticed
vadimsaf
I think u right.
Thanks.
VasilyTrader
@vadimsaf, thanks
BiGApple-FX
I agree with your view but we have a symmetrical triangle!

If the channel will broke and retest we could go down to level 1.3220 and move up at level 1.3335!

Anyway, thank you for sharing your view.
VasilyTrader
@BiGApple-FX, yes it is true
But I will trade only bearish breakout
Siegemp555
CAD is about to go ballistic, to have its own space shuttle to the moon. Ha ha ha.
VasilyTrader
@Siegemp555, ha ha ha
ForexMA
Thank
VasilyTrader
@muneebahmed636, welcome
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