USD/CAD:Trade using 55-EMA and trend line support (go short)
Take short
1.When price is below 55 -15 min EMA
2.Trend line support breaks
3.CCI(50)- also shows sell
4. ADX strength should point upwards
Major resistance- 1.2960
Minor intraday support- 1.2915 (trend line joining 1.128617and 1.28985)
In the 15 min chart, the pair is trading below 55- EMA and also broken the trend line support. It is currently trading around 1.29030 level.
On the higher side, the minor resistance is around 1.2940 and any break above targets 1.2965/1.3000 in the short term.
Loonie’s major support is around 1.2860 and break below targets 1.2830/1.2780.
It is good to sell on rallies around 1.29030-1.2905 with SL around 1.2940 for the TP of 1.2861/1.2805
1.When price is below 55 -15 min EMA
2.Trend line support breaks
3.CCI(50)- also shows sell
4. ADX strength should point upwards
Major resistance- 1.2960
Minor intraday support- 1.2915 (trend line joining 1.128617and 1.28985)
In the 15 min chart, the pair is trading below 55- EMA and also broken the trend line support. It is currently trading around 1.29030 level.
On the higher side, the minor resistance is around 1.2940 and any break above targets 1.2965/1.3000 in the short term.
Loonie’s major support is around 1.2860 and break below targets 1.2830/1.2780.
It is good to sell on rallies around 1.29030-1.2905 with SL around 1.2940 for the TP of 1.2861/1.2805