USDCAD still looking for completion of the retrace

FX:USDCAD   U.S. Dollar / Canadian Dollar
I was expecting the USDCAD             to complete the correction of the BC             leg down move at the 38% level. However, price moved down breaking the lows of the previous weeks and the market seems to be bearish now finding resistance at the yearlyPP. In spite of this the expectation is still to the significant resistance levels which include the 50sma, 38% retracement, SSB             50% level of the previous impulse move, and previous structure. Volumes are low and decreasing so the current down move is not supported by volume . So a potential move long is still expected.
Nice.. i think move above 1.313 is still on cards.. but that i think will be after some sessions.. the whole market seems range bound.. for monday i think it will jump up towards 1.30 from 1.2925
SteynTrade newbie2016
Yes, seems to be struggling to complete the pattern to the 38% retrace level. So we may have to wait some more. Lets see what this week brings.
Good Idea
Thank you.
VERY interesting
SteynTrade Gluckmann
Yes, the market turned bearish last week, but the market normally completes as significant levels so still thinking the market should reach around the 1.33 level. Will be watching price action this week.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
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 Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out