USD/CAD Buy Now at 1.25281 with the stop loss of 1.24205
Tp2 1.29471 which is Major Resistance area
For Scalp traders script is moving in a parallel channel
tops and bottoms are defined for long and short positions.
OANDA:USDCAD seems to be travelling in the narrowing band. This is a quick long opportunity in an otherwise downward trend.
The price is expected to move up (at the time of writing its close to 1.2428). There is some subtle US fundamentals such as Michigan Inflation expectation today.
Albeit there isn't a massive range here its a quick in and out.
Take a look at my original analysis, to see how price has behaved.
Price has now completed the Inverse head and shoulder pattern.
Price has retraced to the 61.8 fib level. Here is where price found support at that fib level which also correlated with the daily support.
Price now began making its bullish move to the upside.
I am expecting price to test the...
USDCAD strong area for buyers to go long.
Structural support FX:USDCAD
Targets 1.2848 our stops below the trend line
Make sure to check your own analysis before entry. Use proper money management
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