fraserchristiaans
Short

"SHORT POSTION" USCAD Long term Down Trend Continuation

OANDA:USDCAD   U.S. Dollar / Canadian Dollar
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Looking at trend line both on 1 day chart and 1 hour chart. I am seeing a Long Term Downtrend continuation. Right now we keep finding support at the 200 EMA on the 1H chart. I'm expecting it to see another bounce near the 200 EMA around the 1.26700 mark sometime early next week. 1.24584 has been a major SUP/RES since 2015 so we can expect the downtrend to continue down to this level by the end of next week.

Enter at 1.26075 Stop at 1.27596 Profit at 1.24584

Fib Levels Off of 1 day chart. Look for bounces off these key levels
50 1.28259
38.2 1.27596
23.6 1.26728

Long term downtrend continuation after Resistance was hit at 1.31300 level. It could continue down all the way to 1.9300 To hit support for 3rd time on 1D chart. then its time to go long again! Keep in mind that Trump can change the outcome at anytime with his 5 AM toilet Tweets.
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