USDCAD = SELL TRADE SET UP
After a continuous bullish run on USD starting from 1.31781 after the breakout of the downtrend on the 8th September where we saw a key consolidation area between 1.31322 ranging to a level of resistance at 1.32408, here we can see a higher level of resistance is made.
You can see after the last 4Hour candle formed we now have a shooting star candle now indicating a bearish move to a lower resistance level of 1.32545
Our Targets:
SL: 1.33540
TP1: 1.32545
TP2: 1.32065
TP3: 1.31349
Fundamentals 23.09.20
Federal Reserve System (Fed) Chair Powell Testimony = 23 Sep 2020 14:00 GMT
FED Chair Testimony in Congress or its individual committees (for example, the Joint Economic Committee) describes the current prospects of the US economy and explains the Fed's recent actions related to the monetary policy.
The statement consists of two parts: the Fed's Chair testimony and a series of questions and answers. The second part may have a strong short-term impact on dollar quotes.
After a continuous bullish run on USD starting from 1.31781 after the breakout of the downtrend on the 8th September where we saw a key consolidation area between 1.31322 ranging to a level of resistance at 1.32408, here we can see a higher level of resistance is made.
You can see after the last 4Hour candle formed we now have a shooting star candle now indicating a bearish move to a lower resistance level of 1.32545
Our Targets:
SL: 1.33540
TP1: 1.32545
TP2: 1.32065
TP3: 1.31349
Fundamentals 23.09.20
Federal Reserve System (Fed) Chair Powell Testimony = 23 Sep 2020 14:00 GMT
FED Chair Testimony in Congress or its individual committees (for example, the Joint Economic Committee) describes the current prospects of the US economy and explains the Fed's recent actions related to the monetary policy.
The statement consists of two parts: the Fed's Chair testimony and a series of questions and answers. The second part may have a strong short-term impact on dollar quotes.