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Sideways on TF Daily and H4, no solid trend.
I think the price gonna bounce up when reaching nearest demand area.
Tight SL with pretty big reward makes a good RR for this one.
Level 1.36 rejected yesterday when FOMC Meeting Minutes took place.
So far, the price already consolidates for at least 12 hours.
Rejection spotted on 1.35 level, offers a chance to move little lower towards 1.34.
In case the level broken, perhaps 1.32 is the next target.
I vote short for this pair, since a major supply area rejected the price yesterday on FOMC Meeting Minutes.
While the market consolidates, perhaps the price will visit the area once more before it goes down.
But even the supply area broken, I'm still on bearish sentiment for the bigger timeframe.
It appears that bullish momentum last week is only a correction.
Weekly candle managed to close below daily support / demand area.
So that means the bear is in control again.
The SBR (grey line) would be a good area to go short.
Or perhaps a little higher on fresh supply area.
It's been a while since my last post about USDCAD.
The price managed to reach demand area on the bottom and bounced back up.
With strong momentum yesterday, the bull is obviously in control now.
So I'll pick long for sure.
The pair is facing 2 supply area, which all of them have ben tested once.
With that kind of rejection on nearest demand area earlier today, I think those supply area is going to be broken soon.
Just about time.
The price managed to break the supply area last Friday.
With TF D1 shows clear sign of bullish momentum, long is the wise choice.
I'll wait on 2 nearest demand area shown on the pic.
No price chasing.
EU just touch major supply area which managed to break some demand area earlier this month.
No reason to go long.
Since this is Friday, I think the low volatility won't move price too far until market close.
That means downward movement is gonna take place next Monday, or perhaps Tuesday.
The price managed to go down earlier this week.
With the pressure like that, I think this pair isn't gonna go up too high.
I have 3 scenario, all end up at the daily demand area.
The bear is real.
No touching any of yesterday's supply area but the price already went down.
With some rejection shown earlier today, I prefer to skip the first supply area.
Wait on the higher suplly area for lower risk.
Strong bearish on weekly.
Bearish engulfing candle on daily.
H4 already made a little correction.
Let the bears win! #fingercrossed