USDCAD -- Bears Market?!
Hello Traders,
Today, the pair is looking to bounce off trendline, repeating the lower high / lower low pattern. Although the Daily shows price above the 200 MA, which generally gives us the trend, should we put in a short order and target last low of ~1.311??
I f we get a close today on or below the BB basis line, and tomorrow pushes it down further, I would short this swing!
For now, let's see today's/tomorrow's close on the Daily for confirmation. Also, we'll check the DXY for any big fundamentals we'd consider for. Otherwise, just for technical analysis, hope to see today & tomorrow bearish candles, especially below the BB basis line.... then I might have the warm & fuzzies!!
This is only an opinion, so please only treat as such, thanks!
Today, the pair is looking to bounce off trendline, repeating the lower high / lower low pattern. Although the Daily shows price above the 200 MA, which generally gives us the trend, should we put in a short order and target last low of ~1.311??
I f we get a close today on or below the BB basis line, and tomorrow pushes it down further, I would short this swing!
For now, let's see today's/tomorrow's close on the Daily for confirmation. Also, we'll check the DXY for any big fundamentals we'd consider for. Otherwise, just for technical analysis, hope to see today & tomorrow bearish candles, especially below the BB basis line.... then I might have the warm & fuzzies!!
This is only an opinion, so please only treat as such, thanks!
Kommentera:
The pair is slowly going down... we'll keep monitoring!
Kommentera:
The pair is now in oversold position on the Daily, bearish action will likely continue!