USDCAD BEARISH UPDATE MAY 21 2020

Comment:

Its finally time to see the 600 pip draw down. After much struggle to stay above 1.40600 level, the true down trend on USDCAD is finally upon us. There is an obvious gap at 1.34400. That move to the upside only took 14 days to go up 700 pips!! starting March 04 to March 18. So, with the current state of the world, I dont see any reason for this pair to go back above 1.40000 at all. I expect this to close below the high each day until the Sunday open, and for Oil to rise tremendously unless the analytics change somehow. I also expect the down trend to come fast over the next two weeks, the same as it went up.

Comment:

I will hold my position for the rest of this month and manage it all the way to take profit. STOP LOSS ABOVE 1.40600

Comment:

This is the fall until 1.34369