USDCAD - Weekly overview - Structure

OANDA:USDCAD   U.S. Dollar / Canadian Dollar
Eventually, the year-long correction will end, and OANDA:USDCAD will begin a huge impulse toward the downside, with targets in the 1.22 area or below.
The question is: when is this going to happen?
The answer is: no one will know, as no one has a crystal ball for this.
What we do know, however, is that we always need to be ready for this movement, so between the 0.5 and the 0.786 Fib, each and every sell opportunity should be taken, as one could be the beginning of the impulse.
Trade with care and only with a tested strategy.
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Updates on lower timeframes will follow.
Comment: Watch for a break of the ending wedge. Wait for an impulsive break, then a correction before selling.
Trade with care and only with a tested strategy.
Comment: Divergence in play.


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