USDCAD break the trendline this time?
Now I will risk 1% to short USDCAD, this pair might break the bearish flag it has been developing for las 6 months for the next reasons:
Fundamentaly:
-OIl is expected to shot up to 60. (Already broke $50 reistance psicological leve)
-USD raised rates(Not good)
-Let´s see which one of this reasons weights more
Technical:
-ABCD pattern has formed in the flag (Shown in green lines)
-Trendline resistance rejected
-1.3450 resitance rejected
-3er touch of trendline (Not good for further downside)
Trading is about controlling risks and maximizing profits so I´ll take 1% risk for a very long term trade in case this still continioues its downside trend
Fundamentaly:
-OIl is expected to shot up to 60. (Already broke $50 reistance psicological leve)
-USD raised rates(Not good)
-Let´s see which one of this reasons weights more
Technical:
-ABCD pattern has formed in the flag (Shown in green lines)
-Trendline resistance rejected
-1.3450 resitance rejected
-3er touch of trendline (Not good for further downside)
Trading is about controlling risks and maximizing profits so I´ll take 1% risk for a very long term trade in case this still continioues its downside trend
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.