#USDCAD: Weakness At Highs, Downside Correction Likely! #Forex
Traders,
Gap up open today on this pair is showing a quick downside move right away from the opening price. Clear weakness at the sideways resistance and investors have acknowledged this. Closing at the lows of the day would provide a great opportunity to seek downside. This is also a signal to take profits if on the long side of this particular trade. It seems logical to assume if price breaks down, first target is sideways support. A break below this could signal a bearish impulse leg, where strong lows could potentially be seen in the future.
I hope you have a tested trading strategy to trade this move when it starts
Thanks for your support
Gap up open today on this pair is showing a quick downside move right away from the opening price. Clear weakness at the sideways resistance and investors have acknowledged this. Closing at the lows of the day would provide a great opportunity to seek downside. This is also a signal to take profits if on the long side of this particular trade. It seems logical to assume if price breaks down, first target is sideways support. A break below this could signal a bearish impulse leg, where strong lows could potentially be seen in the future.
I hope you have a tested trading strategy to trade this move when it starts
Thanks for your support
منشورات ذات صلة
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.