During the Asian session on Wednesday, the USD/CAD pair rebounded after two days of losses, reaching around 1.3590. This uptick is fueled by a stronger US dollar and lower crude oil prices, which put pressure on the Canadian dollar. The decline in Western Texas Intermediate (WTI) oil prices to approximately $80.70 is attributed to...
USD/CAD: loonie made a trap
2019-11-11 • Updated
Recommendation:
SELL 1.3210
SL 1.3265
TP1 1.311 TP2 1.291 TP3 1.2805
On the daily chart, USD/CAD keeps fighting for 1.3055. If bulls win, the pair will likely go towards the lower border of the uptrend channel. On the contrary, if bears win, the pair will form a “Bat” pattern.
On H1, bulls are trying to trigger the “Shark” pattern. If USD/CAD reaches its 113%, it will be possible to distinguish the convergence area with the entry point for a sell trade.
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Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
Bearish scenario: Sell below 2200 / 2194 ... Nearest bullish scenario: Buy above 2197... Bullish scenario after retracement: Consider buys around each indicated demand zone