Overall we are bearish on USDCAD. After the FOMC statement there was a big rejection of the monthly level ~1.325.
Due to this it has also formed a double top if zoomed out from highs from March. I am already short with target levels as indicated. If we close strong above monthly level, analysis is invalidated.
Risk Reward
1st Target: : ~1:2
2nd Target: ~1:10
3rd Target: ~1:13.5
-Best Regards and safe trading
Due to this it has also formed a double top if zoomed out from highs from March. I am already short with target levels as indicated. If we close strong above monthly level, analysis is invalidated.
Risk Reward
1st Target: : ~1:2
2nd Target: ~1:10
3rd Target: ~1:13.5
-Best Regards and safe trading
Note
Another confluence leading to my entry is on the hourly we can see clearly see a triple top/rejection of the level.Note
Target one smashed . Will be expecting small rallies . Target two should be nextNote
Target two smashed . Target 3 in route .
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.