USDCAD still in the lead at the moment taking gains on Easter Monday bouncing off the H4 21 EMA as it should do in a bearish market but seeing as how Oil has been losing steam I wouldn’t be surprised that a bit of USD strength is still in the cards. At the moment two scenarios are offered to us either a hold of the 1.316 area as a higher low or for the price to go back down to 1.292 for a double bottom. In both cases we are still keeping our eyes out for our sell zone target between the 38.2-50% fib retracement to join the downtrend upon a price action signal.

HAPPY TRADING

USDCAD H4

 

USDCAD H4 29

USDCAD D1

USDCAD D1 29

3 thoughts on “USDCAD OVERVIEW 29/03/16”

  1. Tyler Lund says:

    Good work Guy

  2. Azfar Khawaja says:

    Worked out perfectly as per your analysis , thanks and great work

  3. Frederick f says:

    it could be we are resting the trend line break and we then run to the sell zone… lets watch oil inventories tomorrow… i think they will be bad like last week – ie: too much oil out there

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