USDCAD short-term trade - watch for sell setup
Good morning everyone,
USD/CAD may be posied to a short-term down move. It has recently touched the 38,2% Fib retracement of the last impulse down as it corrects the abrupt down move.
Therefore, a complex correction has started to develop and I would be looking to sell it. First level to watch on the downside is 1.267 though i would not be surprised if it gets to the bottom of ascending channel later on (around 1.25).
Wish you all the best trades,
PTFX
Disclaimer: This post does not provide any kind of financial advice. It is for educational purposes only and solely supported by my understanding of the technical figure based on wave theory.
USD/CAD may be posied to a short-term down move. It has recently touched the 38,2% Fib retracement of the last impulse down as it corrects the abrupt down move.
Therefore, a complex correction has started to develop and I would be looking to sell it. First level to watch on the downside is 1.267 though i would not be surprised if it gets to the bottom of ascending channel later on (around 1.25).
Wish you all the best trades,
PTFX
Disclaimer: This post does not provide any kind of financial advice. It is for educational purposes only and solely supported by my understanding of the technical figure based on wave theory.