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USDCAD - Edition #1
USDCAD - Edition #1 - Read the full update on Zelf Trade.
Samuel Castellanosโข
USDCAD - Edition #1
_Macro Outlook ๐ Bullish ๐_Price trades below resistance.... bullish!
- Price is oscillating within a massive range since 2015, but looking at the most current reaction from 1.22185. There is evidence that it is leaning to the upside.ย
- This latest strong move since April 21 created two bullish patterns: price trend change with expanding candles and weekly deviation.ย
Note
This still remains within the current range of 1.22185 - 1.38355 so waiting for a move above 1.38355 to pull the trigger is the conservative approach.ย
Short Term
- Still bullish. As long as the price stays above 1.36, betting on the highs equal to 1.38 is the move to make.ย
- On the other hand, below 1.36 and target the impulsive move from 1.33.ย
- Both trades present great opportunities, but remember not to get trapped in a micro trade for longer than necessary. 1.33 is for bidding, as is 1.38 (once broken).
Disclaimer: This content was originally published on Zelf Trade.