USD/CAD Daily Chart
I think a retracement to the 20-EMA might offer a good level to enter into a long trade on this pair. If the price fails to retrace to this moving average and starts to resume the uptrend, we could look to smaller timeframes like the 4-hour or hourly charts to fine-tune a long entry.
The aggressive decline in the oil price over the last two weeks has put a lot of pressure on the Canadian dollar. This has helped the USD/CAD a lot because the US dollar has been considerably weak over the last couple of days.
I think a retracement to the 20-EMA might offer a good level to enter into a long trade on this pair. If the price fails to retrace to this moving average and starts to resume the uptrend, we could look to smaller timeframes like the 4-hour or hourly charts to fine-tune a long entry.
The aggressive decline in the oil price over the last two weeks has put a lot of pressure on the Canadian dollar. This has helped the USD/CAD a lot because the US dollar has been considerably weak over the last couple of days.
Kommentera:
Kommentera:
TP1 AND TP2 WAS REACHED PERFECTLY