Dolar A.S. / Dolar KanadaSingkat
USDCAD FOREX PAIR 1H TIMEFRAME DATE 7/22/2024
Based on the current market conditions, it is prudent to refrain from buying the US Dollar against the Canadian Dollar at this time. Today's economic events have exerted downward pressure on the Dollar from a fundamental standpoint. Moreover, a technical analysis reveals a harmonic pattern indicating distribution, highlighting a prevailing lack of upward momentum.
In light of these factors, I am inclined to adopt a bearish stance on this currency pair for the short term. Specifically, I am considering swing trading opportunities aiming for downside movements intra-week. I anticipate potential resistance near the value area low or at the point of control derived from Wave 5 of the previous cycle.
As we proceed through the week, I will monitor intra-day developments closely to identify optimal entry points. Patience and strategic timing will be key in capitalizing on potential opportunities.
Wishing you all a productive journey ahead. Remember, the construction of success requires steadfast commitment and astute decision-making.
In light of these factors, I am inclined to adopt a bearish stance on this currency pair for the short term. Specifically, I am considering swing trading opportunities aiming for downside movements intra-week. I anticipate potential resistance near the value area low or at the point of control derived from Wave 5 of the previous cycle.
As we proceed through the week, I will monitor intra-day developments closely to identify optimal entry points. Patience and strategic timing will be key in capitalizing on potential opportunities.
Wishing you all a productive journey ahead. Remember, the construction of success requires steadfast commitment and astute decision-making.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.