USDCAD - DOWNSIDE CONFIRMATION ON DAILY
We have decided to publicise this trade to help out with the Tradingview community, we recently published a buy trade for GBPUSD on the monthly which is currently doing very well. Today we want to bring USDCAD to your attention, which has confirmed downside below the 200SMA after holding above it for a short period.
A death cross is looking likely in regards to the 50 / 100 SMA, which will follow with a proper death cross on the daily when the 50 and 200 SMA's cross. The only way this can be avoided is with USDCAD having huge upside and holding back above the 200sma within the next week or two; which we don't think is likely considering the impending downside due for the US Dollar index.
A death cross is looking likely in regards to the 50 / 100 SMA, which will follow with a proper death cross on the daily when the 50 and 200 SMA's cross. The only way this can be avoided is with USDCAD having huge upside and holding back above the 200sma within the next week or two; which we don't think is likely considering the impending downside due for the US Dollar index.