Jump to content
Sign in to follow this  

USDCAD short drop before a mega rally?

Recommended Posts

Price has been held at a possible weekly chart trend line but if you delete that line and look at other indicators it seems like the upper channel is likely to be hit before the rally ends.

USDCAD-Daily_250120.thumb.png.4aec4d58f1c0624a0dfdbac9b298b1f8.png

  • Thought provoking 1

Share this post


Link to post

USDCAD at the top of the LT channel.  Breakout or hold?

Pressure on USD today it seems with USDJPY down and GBP and EUR holding at key support.  I wouldn't put it past CAD to reverse here for at least another round trip to the bottom of the channel.  NMD on 4H and 1H and 1-5 on the rally (FWIW).

USDCAD-Weekly_070220.thumb.png.bf148d73ff70654779913c9078a28654.pngUSDCAD-4-hours_070220.thumb.png.d04f9564d52dd63d70827b32dcc55013.png

Share this post


Link to post

My monthly chart resistance trend line appears to have held on NMD so far and now with Oil potentially breaking into  rally this pair could be about to move south big time.

USDCAD-4-hours_130220.thumb.png.09eb8615850a6dbc2a75c2752d4878f4.png

  • Like 1

Share this post


Link to post

Probably allied to the Oil move, USDCAD is knocking on the door of a support break after that LT trend line resistance held.

USDCAD-4-hours_140220.thumb.png.ccc8886e4c9541822f2b6dc48b84409a.png

  • Like 1

Share this post


Link to post

USDCAD breaking lower after a turn at the LT resistance trend line and NMD.  Another down leg towards the lower trend line is indicated if this break low holds.

USDCAD-Daily_190220.thumb.png.bac9ec64ed0b5382d6a77634f56aac48.png

Share this post


Link to post

Second test of my long term resistance trend line at the top of a Triangle consolidation has failed.  Given Oil has rallied off support (still a possible final leg down but it was a decent time to chance a Long, which I did) this may be a good point to consider Short USDCAD.

USDCAD-4-hours_250220.thumb.png.5ed9f345b68f15d4f82ec975462fd646.png

Share this post


Link to post

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
You are posting as a guest. If you have an account, please sign in.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

×
×