A once in a ten years short opportunity ! Simplest chart ever
- USDCAD is well over bough on every timeframe
- We've reached the 78% fibonacci retracement line
- USDCAD might go higher but it needs a serious correction as it's not very wise to buy when the RSI is at +85 !
- USDCAD has been consolidating since 2008 but is 0.95 really the bottom ???
- As far as the chart can go USDCAD went down when its weekly RSI touched 85.
Risky ? Maybe if you only consider fundamentals and one speach from the BOC but the laws of nature ( Fibonacci) are also at work here !
Rewarding ? Certainly !
- We've reached the 78% fibonacci retracement line
- USDCAD might go higher but it needs a serious correction as it's not very wise to buy when the RSI is at +85 !
- USDCAD has been consolidating since 2008 but is 0.95 really the bottom ???
- As far as the chart can go USDCAD went down when its weekly RSI touched 85.
Risky ? Maybe if you only consider fundamentals and one speach from the BOC but the laws of nature ( Fibonacci) are also at work here !
Rewarding ? Certainly !