The cad bullish momentum is going to be tested within the zone because it heading towards a major resistance zone. This zone has rejected several trends, causing bearish momentum in the past
Now would be the best time to test for the bearish emergence being that the cad is another safety currency. As the market's fears over the viruses ease more the cad might...
31 October 2020
Price has came down as anticipated last week, and reach it's support & MA200 line.
At the moment, would rather wait & see, where the market is going.
Will it break the support & MA? Or will it bounce up and test the resistance once again?
Looking at CXY medium to long term, it has been in a hectic downtrend since 2011 mid-year. This tells me that there is a lot of underlying bearish
momentum even though the 5 wave motive move has been completed as well as it's subsequent ABC corrective structure. Therefore, on this note,
Could we possible expect a continuation of the preceding downtrend and a...
📍 USDCAD
Prepare for a flush in CAD with the ever-present threat of Canadian tariffs from Trump. Protectionism is excellent at the best of times...let alone in the middle of a pandemic... right 🥺
The unwinding is picking up speed - RSI on track for the decline and pressure looks set to carry us into the 70 handle.
=> A possible breakdown can also now be met...
This is the weekly analysis for the week commencing 28.06.2020
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NOTE:Truths
-Traders will do the same thing over and over again.
-In trading, no one to blame and no one to question what price did.
-Price can break any low/High because anything can happen.
If you fully allign your thinking in line with the truth about the market then you will win.
