Mulakan
PontusTrader

USDCAD short opportunity coming up

Singkat
Dolar A.S. / Dolar Kanada (FX:USDCAD)  
PontusTrader Telah dikemas kini   
FX:USDCAD   Dolar A.S. / Dolar Kanada
Support and Resistance USDCAD UC
4
1
supportandresistance usdcad uc
Weekly chart looks the red line should offer resistance.

Looking in closer 4-hour time frame, there are more resistance reasons as shown below.
  • resistance of upper channel
  • resistance trend line (cyan)

snapshot
Komen:
Potentially, this is what I think is likely to happen - an inverted H&S.

Long term, I am bullish and definitely see a much higher probability that the UC will break aggressively out of this weekly descending resistance and CAD will drop back down to 70 cents area.

In the meantime, we could have a rejection of this weekly desc. resistance, leading up to the formation of a right shoulder.

www.tradingview.com/chart/HIIzLJ32/
Komen:
Also, BoC rate decision is Wednesday morning - not sure how to plan for that one.
Komen:
H&S
Forgot to add a proper image of the inverted H&S

www.tradingview.com/chart/HIIzLJ32/
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.