USDCAD - Correction to the upside and then down.
Greetings fellow traders,
Demand has been hit, and we may see USDCAD go up to 1.2880-1.2900 region of supply. When this price is hit, we may see a large push to the downside. It all depends on price behavior so be careful not to go in to early. It's better to wait than to go in to early and try to catch the tops or bottoms.
Watch how the price moves and watch volumes and lower-lows. The current situation in the US is at the moment uncertain, so basically anything can happen with the dollar.
However we are most certain that USDCAD will hit the 1.2880-1.2900 mark and we will from there go short and set SL at 1.2925.
//ForexSavants
Demand has been hit, and we may see USDCAD go up to 1.2880-1.2900 region of supply. When this price is hit, we may see a large push to the downside. It all depends on price behavior so be careful not to go in to early. It's better to wait than to go in to early and try to catch the tops or bottoms.
Watch how the price moves and watch volumes and lower-lows. The current situation in the US is at the moment uncertain, so basically anything can happen with the dollar.
However we are most certain that USDCAD will hit the 1.2880-1.2900 mark and we will from there go short and set SL at 1.2925.
//ForexSavants