• Renewed US Dollar strength coupled with falling Oil prices due to fear of recession, are the main fundamentals behind the rally of USD/CAD
• Technical picture remains bullish as long as above the slightly ascending trend line and horizontal support at 1.3530
• Long term symmetrical triangle is shrinking which means the breakout is coming soon and the projected target is a huge move ( height of the triangle is almost 2000 pips )
• Short term trading recommendation:
Risk/reward favors a long position at current 1.36 level with stop at 1.35 and target 1.38 (descending trend line resistance)
• No fresh trades are recommended before closely watching the outcome of the FED meeting on Wednesday
Traders, if you like this idea please comment and like ✅
Here to answer all your questions,
Good luck
• Technical picture remains bullish as long as above the slightly ascending trend line and horizontal support at 1.3530
• Long term symmetrical triangle is shrinking which means the breakout is coming soon and the projected target is a huge move ( height of the triangle is almost 2000 pips )
• Short term trading recommendation:
Risk/reward favors a long position at current 1.36 level with stop at 1.35 and target 1.38 (descending trend line resistance)
• No fresh trades are recommended before closely watching the outcome of the FED meeting on Wednesday
Traders, if you like this idea please comment and like ✅
Here to answer all your questions,
Good luck
Ramzi Abou Abdallah, CFTe, CMT
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Ramzi Abou Abdallah, CFTe, CMT
免責事項
これらの情報および投稿は、TradingViewが提供または承認する金融、投資、取引、またはその他の種類の助言もしくは推奨であることを意図したものではなく、またこれらに該当するものでもありません。詳細は利用規約をご覧ください。