USDCAD: LONG @ Channel Support with Pivot Support
Update: Profit target met without triggering entry. Trade cancelled.
Looking for CAD to continue its weakness vs. the USD given continued slide in Oil prices and commodities in general.
Key technical points for LONG:
- Channel slope validated with numerous dead-on hits
- Looking to LONG at channel floor
- Fibonacci monthly pivot S1 to act as another strong support
- RSI ranging between 45 and 75, indicative of a strong bull market
Looking for CAD to continue its weakness vs. the USD given continued slide in Oil prices and commodities in general.
Key technical points for LONG:
- Channel slope validated with numerous dead-on hits
- Looking to LONG at channel floor
- Fibonacci monthly pivot S1 to act as another strong support
- RSI ranging between 45 and 75, indicative of a strong bull market