I needed quick, COLD HARD CASH! Hahaha.
You will get quick cold hard cash with this trade setup! I am looking for it to fall to 1.31000 which is only 18 pips away, from the 1.31000 level i am expecting bulls to take over and push price higher catching a possible 50+ pips.
Come and say HELLO if you are struggling with anything and i will help you.
Elections are finally over and BIDEN has been choosen.
There are still further chances of Declining.
If we want further decline then
Price must do some corrections.
Techincally MA are in support,
Demand zone breached.
Weekly,Daily rejection zone seems
to be holding.
If broken below 1.305, then FREEFALL
will took place.
Key area for USDCAD here @ 1.3050-60 area as we have bounced off the key 92.48 support in DXY index. Provided that the level holds, we should see a bounce off these lows in USDCAD and a rally towards the 1.3137 fibbo resistance or even towards the 1.3190 level.
From a risk reward point of view, dollar looks oversold here with an RSI around 28 reflecting a turn in...
- Bullish Hammer on 1H
- Rejecting lower demand zone @ 1.31000
- RSI putting upwards
- Bounce from 1.0 fib level
I don't normally incorporate RSI indicator into my strategy, as I have never found it that reliable. I will be testing it out against results and see if I can make any improvements.