USDCAD: Looking to short before the BoC news come out
Price has skyrocketed in the short term, but it's now up against a weekly downtrend mode resistance.
The daily uptrend signal target has been exceeded ahead of time and it would seem like the right time to turn into a contrarian. Waiting for bearish signals to confirm this speculative bias.
Rgmov is warning us already, showing no new highs diverging vs price. The profile shows it's slightly past the balance point, matching the weekly mode resistance area nicely.
There is a daily uptrend in place, so tread carefully.
Good luck!
Ivan.
The daily uptrend signal target has been exceeded ahead of time and it would seem like the right time to turn into a contrarian. Waiting for bearish signals to confirm this speculative bias.
Rgmov is warning us already, showing no new highs diverging vs price. The profile shows it's slightly past the balance point, matching the weekly mode resistance area nicely.
There is a daily uptrend in place, so tread carefully.
Good luck!
Ivan.
Trade closed: target reached
