We've made a liquidity run, I would like to see DXY lose strength and make a pullback.
USD/CAD is also sitting at the top of the range. Price did manage to close below and respect current daily resistance.
U/CAD is currently seeing some bullish momentum.
Taking a quick look at US/OIL we see we are still making HH and HL. Which gives us a good indication U/CAD will likely be moving the same.
I am seeing an Intra Day long opportunity
1. 61.8% Fib Pullback
2. Retesting Previous Res (1.3120)
3. Potential 3rd TL Touch
Weekly
Bullish Momentum
Daily
Our daily fib is showing price respect the 23.6% level - indicating a continuation
4H
Price has impulsed to 143.50 finding some resistance.
If we fib the impulse we find the 50%-61.8% being a very favorable zone
1. It is a around our recent key level 142.8
2. Daily Support is in this zone around 142.69
3. Retesting...
Looking for a possible stop hunt at 75.50 but can see price get up to 75.75 to make a HH.
Price broke 1H Resistance cleanly which led us to enter on the small retest.
Also see a small downtrend broken and being retested
Only risking under 15 pips
2.5 : 1 RR
** Looking to take it up to 143.40 if we don't slow down at 143.20 **
Quick Scalp Setup
We favor the downside but are showing signs of bullish momentum. We can potentially see a stop hunt to yesterdays previous high around 143.20 which is also our supply zone.
We will go with momentum for the time being and look to potentially short if we reach...
Weekly Outlook
Bullish
Weekly: We managed to close the week above Key Level 1.78
Daily:
1.Price Closed with an aggressive hammer last daily close.
2.We also hit our 61.8% Daily Fib Level
