Ive been waiting for this pair to reach 152.00 to go for a short for a while now and we finally have it. Its at the .618 now and theres a long range target at the 1.27 which lines up with 142.00. Targets at 147.250 - 145.250 - 142.00. , and stop loss and 155.00
USDCAD is now presenting us with yet another beautiful work of art pointing to the downside. The news about the interest rate hike from the BOC short the usdcad up.. right into the holy grail of the 618 fib, and the 1.28000 monthly resistance. It may go higher but it won't go higher than 1.28666.. or 1.29 on the safe side. Either way this pair is going to continue...
USDCAD is definitely still on its way down still despite the news events of the interest rates. Brilliant sell opportunity . Its shot up due to that purely and had retraced right into the Holy grail of the .618 fib. This doesn't mean that it can't still reach the .786 fib but, in conjunction with the downward CTL, and the monthly resistance, of 1.28000 lining up...
This is an add on to my last post. As you can see we have some convergence with the RSI and the market price line. Its also hitting 2 different fib points with a spinning top (I think) candle.
I would be looking to buy here and add more to it as it continues to show bullish breaks to the up side.
If you have any advice or anything too add please fell free. Im...
The trend setting point is closer to the 50.00 mark but could consolidate at the 49.50 mark first. Lots of potential within the next week or so to catch the pivot point. Personally i believe its going up right past the 50.00 in the next week to that 51.50 near the -0.41 fib line.
