Why should you follow us on Tradingview?
-Premium author on TradingView
-6+ years experience in markets
-Professional chart break downs
-Supply/Demand Zones
-No junk on my charts
-Frequent updates
-Covering FX/Commodities
-24/7 uptime so constant updates
USD/CAD 1H: SHORT IT! SHORT/HOLD(NEW)
IMPORTANT NOTE: speculative setup. do your own
due dill. use STOP LOSS. don't overleverage.
🔸 Summary and potential trade setup
::: USD/CAD 1H/candle chart review
::: distribution in range now
::: Sentiment short-term: BEARS
::: Sentiment outlook mid-term: BEARS
The loonie has rebounded towards 1.3300 and below alongside crude prices awaiting Canada’s manufacturing PMI. A firm hourly break back below 1.3250 will begin the next over leg to the downside for this new month of Trading. Potential of 1.3100 amid a break of 1.3250.
An upturn in broad risk sentiment on USD, perhaps more on post-month end positioning rather than any real bullish factor, has dampened some Dollar demand, but the DXY remains firm above the 94.000 handle within a 94.035-285 range ahead of this week’s major events, kicking off with the US Presidential Election tomorrow, then the FOMC on Wednesday and NFP 2 days later. Note, further bear-steepening along the Treasury curve may also be Buck supportive and in recognition of Biden still holding a lead over incumbent Trump.
-Premium author on TradingView
-6+ years experience in markets
-Professional chart break downs
-Supply/Demand Zones
-No junk on my charts
-Frequent updates
-Covering FX/Commodities
-24/7 uptime so constant updates
USD/CAD 1H: SHORT IT! SHORT/HOLD(NEW)
IMPORTANT NOTE: speculative setup. do your own
due dill. use STOP LOSS. don't overleverage.
🔸 Summary and potential trade setup
::: USD/CAD 1H/candle chart review
::: distribution in range now
::: Sentiment short-term: BEARS
::: Sentiment outlook mid-term: BEARS
The loonie has rebounded towards 1.3300 and below alongside crude prices awaiting Canada’s manufacturing PMI. A firm hourly break back below 1.3250 will begin the next over leg to the downside for this new month of Trading. Potential of 1.3100 amid a break of 1.3250.
An upturn in broad risk sentiment on USD, perhaps more on post-month end positioning rather than any real bullish factor, has dampened some Dollar demand, but the DXY remains firm above the 94.000 handle within a 94.035-285 range ahead of this week’s major events, kicking off with the US Presidential Election tomorrow, then the FOMC on Wednesday and NFP 2 days later. Note, further bear-steepening along the Treasury curve may also be Buck supportive and in recognition of Biden still holding a lead over incumbent Trump.
