IulianBondar
Short

Rising Wedge, rejection area, $ weakness

FX:USDCAD   U.S. Dollar/Canadian Dollar
Good opportunity to short for a 38% to 50% correction: 1.3260 to 1.3220

Reasons for the trade:

1. Rising Wedge formation at top - a break below the support line would trigger a short position
2. Rejection area above 1.3400 - market could not close above it.
3. Dollar weakness could last a couple more days after Friday's decline.

Safe trading!
Iulian
Comment: The wedge has been broken to the downside!

If the GDP surprises the market positively we will have the extra boost needed for the pair to make a decisive move towards 1.3250
United States
United Kingdom
India
Deutschland
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out