Hi everyone:
USDCAD has been on my watch for quiet some time now. WE can tell the daily chart is way over extended without a proper pullback/correction. In order for it to continue to drop, it must pullback and form another lower high to continue downward. In the next few weeks, expect a bullish pullback to around 1.2900 level, then we are all going to enter a short position for a long term.
I will be interesting in a bullish pullback, but main focus is the short once price action form a lower high on daily. Keep an eye on any potential long trade this week or next.
Thank you for your support and feedback.
USDCAD has been on my watch for quiet some time now. WE can tell the daily chart is way over extended without a proper pullback/correction. In order for it to continue to drop, it must pullback and form another lower high to continue downward. In the next few weeks, expect a bullish pullback to around 1.2900 level, then we are all going to enter a short position for a long term.
I will be interesting in a bullish pullback, but main focus is the short once price action form a lower high on daily. Keep an eye on any potential long trade this week or next.
Thank you for your support and feedback.
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