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USDCAD Optimal Sell opportunity for September.

Short
FX_IDC:USDCAD   U.S. Dollar / Canadian Dollar
The USDCAD pair has been trading within a Channel Up pattern since September 2021. This 1 year of steady growth has given us a very clear trading outlook for buy-low sell-high set-ups. It is how we got an almost perfect buy on the 1D MA200 (orange trend-line) on our last update more than a month ago:


The price is now again near the Higher Highs (top) trend-line of the Channel Up, having rebounded 4 days ago on the 1D MA50 (blue trend-line). This is a prime candidate for a sell, which depending on your trading horizon can target the 1D MA50 (short-term) and the 1D MA200 (medium-term). There is also an inner Higher Lows Zone (green) involved below the 1D MA200 as a Support. Keep an eye on the 1D MACD crosses for entry timing.




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