For my previous post and context see below:
It seems like this move lower is close to its end. That doesn't mean that price will reverse and make a new high but I think that we will see at least a retrace towards 1.37 and possibly even 1.40. I like to see a last leg lower at the beginning of the week towards 1.34 zone but I trade what I see. Therefore I like to see an impulse higher of lesser degree on lower time frames and buy after the minor consolidation.
There is also divergence which can be considered as a warning that the USDCAD is ready for a correction soon.
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It seems like this move lower is close to its end. That doesn't mean that price will reverse and make a new high but I think that we will see at least a retrace towards 1.37 and possibly even 1.40. I like to see a last leg lower at the beginning of the week towards 1.34 zone but I trade what I see. Therefore I like to see an impulse higher of lesser degree on lower time frames and buy after the minor consolidation.
There is also divergence which can be considered as a warning that the USDCAD is ready for a correction soon.
www.timstuyts.com
facebook/timstuyts
Comment:
Watch for a bullish impulse of lesser degree before the buy after a break out. If we break lower again look for a sell.
