Is is time for USDCAD to take a deep dive??
Morning pips,
As you can see from the chart that USDCAD has recently created highs and lows and it seems like it is on the way to complete XABCD pattern. While technical indicators showing bearish signs and USD also weakening in coming weeks complemented by CAD strength. I will looking to go short on this when price reaches at least the marked entry area if not higher.
Let me know your thoughts on this.
Trade safe and good luck.
As you can see from the chart that USDCAD has recently created highs and lows and it seems like it is on the way to complete XABCD pattern. While technical indicators showing bearish signs and USD also weakening in coming weeks complemented by CAD strength. I will looking to go short on this when price reaches at least the marked entry area if not higher.
Let me know your thoughts on this.
Trade safe and good luck.
Trade active
Trade closed manually:
Closed manually with 100 pips after seeing bullish reversal sign.