As the Fed rate hike approaches in the coming week, I expect rates to stay the same, leading me to have a biased view that usd will fall. As long as the C leg doesn't pass the price of A (1.32546), I believe that ucad will continue to drop based on my harmonic analysis. To add to that, I'm hoping that OPEC puts some sort of freeze on oil production, thus leading to higher oil prices and ucad falling further.
Entry: 1.32 Tp1: 1.3070 Tp2: 1.2950 Tp3: 1.265
Sl: 1.3266
Comment
⋅
So, before the debate usdcad broke the previous July high or A point on my harmonic setup. Thus this gartley is now invalid and time to get out of your shorts. But fear not, because now I am playing the cypher setup as I see usdcad going to 1.34 before falling to a 1.26xx level.