VasilyPonomarev

USDCAD in Major Weekly Range! Long Term Outlook:

Short
OANDA:USDCAD   U.S. Dollar / Canadian Dollar

Analyzing 5-year price action cycle on USDCAD we may see that the pair is ranging.

The price is stuck in a huge horizontal trading range and now we see a steady bearish continuation.

Most likely market makers are aiming at 1.19 - 1.23 support cluster.
It is the closest strong structure and major reversal can start from that.

For now, wait and prioritize short trades.
Look for pullbacks on lower time frame for safe entries.

Do you agree with my outlook?

Please, support this idea with like! Thank you!

Comments

Do you agree with my outlook?
+1 Reply
interesting buy zone
Reply
VasilyPonomarev Yuriy_Bishko
@Yuriy_Bishko, thank you buddy 🙏
Reply
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