Undoubtedly, since mid-March, CAD has dominated the market, and with USD has strengthened more than 2500 pips, reaching a local low at 1.2 at the end of May.
A first leg of correction has followed and a new drop after this.
However, this new drop has found bids in 1.23 zone and we have 2 Doji candles on our weekly chart that can signal a higher low is in place.
I expect a new leg up from UsdCad and the price could reach and test 1.3 resistance.
Such trade can have a 1:5 risk to reward ratio and is negated with a daily close under the last recent low
A first leg of correction has followed and a new drop after this.
However, this new drop has found bids in 1.23 zone and we have 2 Doji candles on our weekly chart that can signal a higher low is in place.
I expect a new leg up from UsdCad and the price could reach and test 1.3 resistance.
Such trade can have a 1:5 risk to reward ratio and is negated with a daily close under the last recent low
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🎯 Want More Trading Ideas?
📈 Join the FREE Forex & Gold Channel
👉 t.me/intradaytradingsignals
💎Get Funded Up to $1 Million with SabioTrade
Use my exclusive link and get 30% OFF your challenge.
👉shorturl.at/b5yyz
📈 Join the FREE Forex & Gold Channel
👉 t.me/intradaytradingsignals
💎Get Funded Up to $1 Million with SabioTrade
Use my exclusive link and get 30% OFF your challenge.
👉shorturl.at/b5yyz
Publications connexes
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.