Why I think USDCAD Will Buy This Week...Technical Analysis
Hey Rich Friends,
I think USDCAD will continue to buy this week and here is what I am looking at:
- The market has already resisted the previous demand zone
- The previous candle was a bullish engulfing, confirming the buying trend
- The 50 EMA (blue) has crossed about the 200 EMA(purple), confirming the buying trend
- The STOCH is facing up, both lines are above 50 and the blue line is above the orange line.
Signals to wait for:
- Both lines of the STOCH to cross above 80
- Current candles close above 50 EMA (blue)
Remember that this is only a technical analysis, so please check the news and reference other indicators on your chart.
Good luck and Happy trading.
Peace and Profits,
Cha
I think USDCAD will continue to buy this week and here is what I am looking at:
- The market has already resisted the previous demand zone
- The previous candle was a bullish engulfing, confirming the buying trend
- The 50 EMA (blue) has crossed about the 200 EMA(purple), confirming the buying trend
- The STOCH is facing up, both lines are above 50 and the blue line is above the orange line.
Signals to wait for:
- Both lines of the STOCH to cross above 80
- Current candles close above 50 EMA (blue)
Remember that this is only a technical analysis, so please check the news and reference other indicators on your chart.
Good luck and Happy trading.
Peace and Profits,
Cha
Trade active
Trade active:
TP 2 HIT, +117 PIPS.
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