USDCAD - Bullish Pullback expected - Bullish Indications
Hi Traders!
Here is our analysis of this pair:
Thanks and successful Trading :-)!
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***Trade at your own risk***
***Not every idea is traded by us***
Here is our analysis of this pair:
- Market is in a Downtrend which started around 9th of March at a price of 1.29
- On 28th of March price made a Low @ 1.24600
- After the Low we have a conspicuous bullish candle with a big bullish wick
--> What does that mean?
--> First Bullish Attempt to move the price higher
--> Loose in the first place, but...
--> Sellers probably felt first feeling of unsureness
--> Sellers looking to cash out their position
--> Price moves higher
- Market moved lower and made an Exhaustion Candle
--> What does that mean?
--> Now the Buyers win
--> Stop Hunting is also imaginable
- Price moved up and made a Fractal
- It moved down and it is the first Higher Low since the beginning of the Downtrend
--> Buyers accept a higher price for this pair
--> First sign of Trend Change
--> Downtrend was LHs and LLs, now we have a LHs and HL --> weaker
- The price even broke the Level of the Fractal Resistance recently
Target:
- On the higher TF, we have this picture:
--> TP should not be too far away
- Aggressive Area: Between "Area of Control" and 50.0% Fib' Level
- Conservative Area: Between 50.0% and 38.2% Fibonacci Level
After the Target, we expect a Down-Movement due to the situation on the higher TF.
Thanks and successful Trading :-)!
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***Trade at your own risk***
***Not every idea is traded by us***
