Yesterday we saw a strong upside break in usd/cad, mainly in relation to the fall in oil prices. Should oil prices to continue to fall, I will look for a continuation trade on this pair. Furthermore, we have news out later today for cad, all of which is forecasted to the downside, possibly giving this pair the extra bullish boost.

Usd/cad daily chart

Price has come off MM2, a bullish entry zone, with usual target of MM4. the daily stochs have turned up, and the 8 and 5 ema are about to turn upside as well. Indicating a possible short term change towards a more bullish tone.

Usd/cad H4 chart

Price has come off WM2, and broken above both the 21 and 55 ma. with bullish target of WM4. It appears price has found support at the 50% fib level, and thus I will look for entries on the lower times frames, with target of WM4/138.2 fib extension.

Usd.cad H1 chart

price is opening above dpp, with hourly stochs to the upside. I will wait for break of 1.3100, and enter off a retest, shown by the black line.

One thought on “Usd/cad, daily long”

  1. Katleho Gnaw Lephallo says:

    Good plan. It worked out exactly how you anticipated. What i want to know is are you gonna sell it? I see it’s touching the trendline and is siting at WM4

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