Nice idea on USDCAD and there may be bearish potential as you have identified. Price is approaching the 1.27461 support level that you have identified. We have found a similar support level as yours at 1.27332. It is a horizontal swing low support, with a 76.4% Fibonacci retracement and 100% Fibonacci extension.
Using the Tidal Shift Strategy, which is a trend trading strategy that aims to catch shifts in trend using trader sentiment indicator. The strategy looks to short when the Speculative Sentiment Index reaches its highest value for the past 145 trading hours. Currently our Speculative Sentiment Index has hit its most extreme positive level for the past 145 trading hours at 1.65436, it suggests that the USDCAD could be trending downwards. Looking forward to seeing how things develop.
Please have a look at our idea and we would like to hear what you think:
Using the Tidal Shift Strategy, which is a trend trading strategy that aims to catch shifts in trend using trader sentiment indicator. The strategy looks to short when the Speculative Sentiment Index reaches its highest value for the past 145 trading hours. Currently our Speculative Sentiment Index has hit its most extreme positive level for the past 145 trading hours at 1.65436, it suggests that the USDCAD could be trending downwards. Looking forward to seeing how things develop.
Please have a look at our idea and we would like to hear what you think: