Only a brave man would short the USDCAD right now but hey a cypher is a cypher. I'm already long on a trend continuation trade on this pair so I'm gonna be staying out of this one but if you have the balls to short what i consider to be a very bullish market then go for it. Caution though: RSI is not yet oversold and there's a strong bullish momentum.
I thought is was going to reverse at 1.431.. like yesterday, it started to reverse at some point.. Today, something is preventing it to reverse back.
JoMarshall
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Yeah it's not showing any signs of reversal at the moment so just wait for a trend continuation set up and jump on the trend
danielsf
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I'm expecting it to drop overnight like it did last night. Some minimal correction and rise again according to oil prices.
ihossain.rana
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Look like technical analysis does not work in this paid. USD/CAD will not reverse untill the oil reverse.
JoMarshall
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Yeah well i'm not looking for a reversal i'm looking for a pull back once the cypher completes. That's why i said caution: this pair is strongly bullish.
Wonour
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Currently stuck in a short thought I called the top a few days ago :p holding on for the reversal
JoMarshall
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Yeah the reversal will come at some point so maybe this cypher will be the reason we see the pullback