USDCAD was on a long bearish trend in the past couple of weeks, going from 1.3967 all the way down to 1.3631, that's over 330 pips! It bounced back up from there, reaching 1.3417, Sweeping the minor BSL and then it dropped back inside the April 20th NWOG, currently being traded at 1.3685, in between the Feb 23rd NWOG and April 20th NWOG.
I expect USDCAD to bounce back up from where it is and go back to the 1.37 range, and then go to sweep the liquidity above the 1.3714 level, and retest the March 16th NWOG at 1.3720 then afterwards. Finally I expect it to reach the 1.3754 level, the Consequent Encroachment of the 4H FVG.
Targets: 1.3695, 1.3703, 1.3710, 1.3717, 1.3724, 1.3731 and 1.3738.
However If USDCAD fail to bounce back up from the Feb 23rd NWOG and April 20th NWOG, it'll drop further to the March 2nd NWOG at 1.3653 and then below the 1.3631 level to sweep the liquidity and then bounce back up.
I expect USDCAD to bounce back up from where it is and go back to the 1.37 range, and then go to sweep the liquidity above the 1.3714 level, and retest the March 16th NWOG at 1.3720 then afterwards. Finally I expect it to reach the 1.3754 level, the Consequent Encroachment of the 4H FVG.
Targets: 1.3695, 1.3703, 1.3710, 1.3717, 1.3724, 1.3731 and 1.3738.
However If USDCAD fail to bounce back up from the Feb 23rd NWOG and April 20th NWOG, it'll drop further to the March 2nd NWOG at 1.3653 and then below the 1.3631 level to sweep the liquidity and then bounce back up.
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Free channel: t.me/AmirAliTrading_Official
Wanna join the Gold, Forex and Crypto Premium channel or do you wanna start the mentorship? Contact me: t.me/Amirali_Trading
Wanna join the Gold, Forex and Crypto Premium channel or do you wanna start the mentorship? Contact me: t.me/Amirali_Trading
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.