Good day Traders !! On this pair we can clearly see that we had a very strong impulse that we would like followed by a correction at least to the 0.5 Fib level.
The price almost hit our 0.382 FIB level and we believe that the correction is not quite done. We are sitting on the 4H just above a support and we would like to see the market turn to a bearish environment and break that support so we can position ourselves on the breakout for a nice short with a good RR.
Also we have a CAD that is strengthened by the financial institution who added more than 10K long position on the last report that came up on Friday.
Now if you enjoyed this analysis please like and share. BTW I will link in the comment area the previous analysis about this pair for further references.
If you have a different opinion I would also like to hear about it in the comment area below.
Trade safe !!
The price almost hit our 0.382 FIB level and we believe that the correction is not quite done. We are sitting on the 4H just above a support and we would like to see the market turn to a bearish environment and break that support so we can position ourselves on the breakout for a nice short with a good RR.
Also we have a CAD that is strengthened by the financial institution who added more than 10K long position on the last report that came up on Friday.
Now if you enjoyed this analysis please like and share. BTW I will link in the comment area the previous analysis about this pair for further references.
If you have a different opinion I would also like to hear about it in the comment area below.
Trade safe !!
Trade active:
Almost hitting the TP for the first short setup !!
Trade closed: target reached:
TP on short setup hit
Trade active:
Long setup just opened.
