FX:USDCAD   U.S. Dollar / Canadian Dollar
The Loonie has been in a strong downtrend on the higher timeframes ever since the March crash. However, we're approaching key MAJOR support and this is where the higher timeframes will be key.

We have weekly support but a weekly descending trendline. Which will break first? Only the market will tell us.

What we're looking at here, is the Head and Shoulders on the Daily timeframe and looking for the break and retest of the neckline down to test out that weekly support.

Any buys only work with a break above the 61.8% fib AND the weekly trendline, keeping our eyes on how price progresses and if it starts to wick back to entry towards the end of the week, we will close at breakeven for buys.


Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out