The monthly timeframe indicative of the long-term trend shows a resilient and bullish US Dollar versus the Canadian Dollar. The target is the 1.54 price handle. This price handle is the supply that triggered the bearish momentum that created the low at 1-0.99 price handles. This bullish correction is caught in a consolidation between the demand and supply at 1.2 and 1.37 respectively. An impulsive move is signalling in the horizon.
On the weekly timeframe, we are cognizant of the unmitigated demand at 1.21 that could be a long-term profit target should the market create new long-term lows. On the Daily timeframe, we have a minor consolidation structure with a bearish imprint.
Once we have a confirmed break in structure and change of character (CHOCH), we anticipate a return to supply where we have a combination of liquidity and fresh unmitigated supply zones; 1.37 price handle. At this level we anticipate our sell orders to be triggered targeting the key daily structure below at the 1.30 price handle. Once price settles at this region;
a. The price could rebound upwards.
b. The price could slide further towards the unmitigated demand at 1.2 price handle.
We will update our outlook as the market gives us new information.
Our analysis is based on smart money concepts; supply and demand. We recommend this set up for swing and position traders.
On the weekly timeframe, we are cognizant of the unmitigated demand at 1.21 that could be a long-term profit target should the market create new long-term lows. On the Daily timeframe, we have a minor consolidation structure with a bearish imprint.
Once we have a confirmed break in structure and change of character (CHOCH), we anticipate a return to supply where we have a combination of liquidity and fresh unmitigated supply zones; 1.37 price handle. At this level we anticipate our sell orders to be triggered targeting the key daily structure below at the 1.30 price handle. Once price settles at this region;
a. The price could rebound upwards.
b. The price could slide further towards the unmitigated demand at 1.2 price handle.
We will update our outlook as the market gives us new information.
Our analysis is based on smart money concepts; supply and demand. We recommend this set up for swing and position traders.
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Public Telegram https://Channel-https://t.me/+tHtXm4RsF7Q4YWE0
Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.