Since we see OIL moving lower in our SELL Oil strategy, the USDCAD very likely will move higher.
The weekly chart shows clearly being below the DARK CLOUD cover, but as observed it has been for some time.
The STOCHS are showing that we may turn the tide, and MACD seems deceiving showing a SELL SIGNAL.
The good thing about technical indicators is, never look at...
time frame identifications : D1 h4 h1
in USDCA make pattern LH after HH and price bullish that pattern some confirmation line purple have line zone for a retest, and in fib retracement and price close in trend line black color.
in case make ratio risk and reward 1:3
Bullish Cup and Handle formation being created, signalling a bullish move to the upside. Expecting a retest at the fibonacci level of 78.6% (also a weekly level) of 1.22800. Needs to push higher in the higher timeframe to continue the parallel channel formation.
This is an educational + analytic content that will teach why and how to enter a trade
Make sure you watch the price action closely in each analysis as this is a very important part of our method
Disclaimer : this analysis can change at anytime without notice and it is only for the purpose of assisting traders to make independent investments decisions
ALL ANALYSIS ARE MADE USING ONLY PRICE ACTION, NO INDICATORS. MULTIPLE TIMEFRAMES ARE INVOLVED BEFORE TAKING A TRADE.
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