TheBanker
Short

Forex Market Analysis and Trading Tips 21st July 2016 (USDCAD)

FX_IDC:USDCAD   US DOLLAR / CANADIAN DOLLAR
SUMMARY:
The USDCAD             pair bounced slightly during the course of the day on Wednesday, using the 1.3037 level as support. At this point in time, the market is looking bearish . The primary trend of USDCAD             is bearish on charts and price is trading below its support trend line in its hourly chart. In its daily chart the price is sustaining below 50 day SMA that are appears on the above image indicating downtrend of the pair. It is having an important resistance at the level of 1.3075 Support at the level of 1.3037. If it breaks its support level on the downside and sustains below it then we can expect it to show further bearish movement in the pair.

INDICATORS:-

MACD is sustaining in its negative territory indicating the bearish trend in the pair.
RSI is sustaining in its selling zone indicating the upcoming negative trend in the pair.

STRATEGY:

USDCAD             is looking bearish on charts for next few trading session. One can go for sell on higher level strategy for this pair for intra day to mid term positions in it.

Thank you for reading guys, I am humbled by your response to my ideas and I wish you all the best with this trade!

Likes and comments appreciated :)

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QuileHills
4 months ago
Good eye I got in around the same time as you it looks.
snapshot
Reply
JPariz QuileHills
4 months ago
QuileHills you need to learn how to trade like the Banker give him more money he's got a big account. take a long hard look at this trade. He's the master.
Reply
QuileHills JPariz
4 months ago
Haha, nobody nails it every time man. You seem upset.
Reply
TheBanker PRO JPariz
4 months ago
We are both very successful... ...and you're not.
Reply
JPariz
4 months ago
NICE
Reply
JPariz
4 months ago
lord jesus your an awful trader. Your big boy account must be suffering considering your photoshopped snapshots of your "live" account
Reply
TheBanker PRO JPariz
4 months ago
hold this L close my dude
+2 Reply
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