Being a dollar bear due to the weak dollar index that we saw last week i am going to look for an opportunity to sell USDCAD
Pice is currently at WM2 which is where we could see USDCAD move up and thats what bears would like to see, because as a bear you want to sell high. i want to see price move up to either WPP or WM3 and from there i am going to look for an opportunit to sell on a lower time frame.
USDCAD ranged on the H1 chart most of last week and then on friday it broke the range to the down side. i am waiting for price to pullback up to 1.3577 so i can sell at a role reversal
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About The Forex Analyst
Graduate in Bcom Human Resources Management. I am a full time Currency Trader and Market Analyst using technical and fundamental analysis, I have been trading in the Forex market since 2016. I am also a part time student at the University of Johannesburg studying Finance and Investment Management. I am always looking to learn and improve my skills as a professional, consistent and successful Trader & Investor for above average returns and a better understanding of the financial industry and financial markets.