USDCAD 0.5 FIBO | Daily Analysis
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USDCAD DAILY ANALYSIS
Trade Probability For This is Really LOW
Trump recently made a Bold Statement on his twitter mentioning:
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"Things are going along very well with China.
They are paying us Tens of Billions of Dollars,
made possible by their monetary devaluations and pumping in massive amounts of cash
to keep their system going. So far our consumer is paying nothing - and no inflation. No help from Fed!
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Fundamental Wise USD is really Bullish.
However,
We are seeing USDCAD on a 61.8 level which is a strong resistence level.
Nonetheless, i am projecting a Break of this level and a rally up for USDCAD the coming days.
Im expecting bullishness till the 0.5 Fibo level( Zone 1)
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I drew a Pink Trendline which will project a possible point of reversal should USDCAD be bullish.
The turquoise box is a possible area of Reversal.
This can BACKFIRE HARD if sellers have enough PRESSURE.
Trade Probability For This is Really LOW
Trump recently made a Bold Statement on his twitter mentioning:
--------------------------------------------------------------------------------------
"Things are going along very well with China.
They are paying us Tens of Billions of Dollars,
made possible by their monetary devaluations and pumping in massive amounts of cash
to keep their system going. So far our consumer is paying nothing - and no inflation. No help from Fed!
--------------------------------------------------------------------------------------
Fundamental Wise USD is really Bullish.
However,
We are seeing USDCAD on a 61.8 level which is a strong resistence level.
Nonetheless, i am projecting a Break of this level and a rally up for USDCAD the coming days.
Im expecting bullishness till the 0.5 Fibo level( Zone 1)
------------------------------------------------------------------------------------------------------------
I drew a Pink Trendline which will project a possible point of reversal should USDCAD be bullish.
The turquoise box is a possible area of Reversal.
This can BACKFIRE HARD if sellers have enough PRESSURE.
Note
Update:Get ready to short USDCAD soon. Been looking into this one. Looks enticing
Note
Update:Entered USDCAD and analysis went out as planned.
Price is now at 1.32410
Thats 70 pips profit approx from zone of short
Clause de non-responsabilité
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