We're in a very critical price level. Price testing %38.2 retracement level right now (1.2540).
Lower time frames (1H,4H) shows hesitation to the down side.
Any good news for USD or bad news for CAD will possibly take price to 1.29 and 1.3225 area.
For down site continuation we should see very strong news and price action to continue short positions.
To open short positions 1.2540 should be broken clearly. Possibly not likely. Base trend is still bullish and this is a correction form.
I'm waiting for price action to open long position. Definitely not short from this price.
Good luck
Lower time frames (1H,4H) shows hesitation to the down side.
Any good news for USD or bad news for CAD will possibly take price to 1.29 and 1.3225 area.
For down site continuation we should see very strong news and price action to continue short positions.
To open short positions 1.2540 should be broken clearly. Possibly not likely. Base trend is still bullish and this is a correction form.
I'm waiting for price action to open long position. Definitely not short from this price.
Good luck
Trade active:
Long entry 1.2555. Low levarege
Comment:
OIL started to fall on Friday. I hope USDCAD will reverse on monday. We could not see any reversal signs yet. If bounces from 1.2460 then we will look at the price action and then decide what will happen. Everything is possible.