USDCAD pair - Looking to go long on the Pull-Back at 1.31800
Looking for USDCAD to retrace to 0.5 or 0.618 fib levels on the day chart. ( 1.31800 - 1.31500 )
Just in time to grab some liquidity for the FOMC rate hike on Wed/21-09/2022
FED'S Rate hike should send the USD/CAD flying through the roof
Causing Crude oil and Gold to crash ( which co-relates to CAD strength )
Following which a FIB retracement to the 0.618 levels based off the Weekly trend. ( Also a major resistant 1.36500 )
Followed by a rejection off the bearish flag and down to the 1.2600 levels again.
These should be aligned to the rising strength of the YEN as well.
Going short on CAD/JPY at the same time while shorting USD/JPY
Nov onwards.
Just in time to grab some liquidity for the FOMC rate hike on Wed/21-09/2022
FED'S Rate hike should send the USD/CAD flying through the roof
Causing Crude oil and Gold to crash ( which co-relates to CAD strength )
Following which a FIB retracement to the 0.618 levels based off the Weekly trend. ( Also a major resistant 1.36500 )
Followed by a rejection off the bearish flag and down to the 1.2600 levels again.
These should be aligned to the rising strength of the YEN as well.
Going short on CAD/JPY at the same time while shorting USD/JPY
Nov onwards.