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USDCAD Rally Incomplete,
Since Friday, USDCAD prints new high mainly after breaking the rectangle that was developed since the start of the month till previous Fri’s rally. The pulse remained positive during the testimony of Yellen helping to punch a close:
1. Above the 38% of the plummet that started at 1.0960, and
2. Above the downsloping trendline with parameters 05 & 18 Jun at the reading of 1.0750
Oscillators point to short term extreme overbought zone which may allow a down side move towards testing that trend line at today’s reading of 1.0742, an entry level.
A plummeting stretch may occur towards 1.0715 as panic is employed during Yellen testimony for a 2nd day and significant CAD data this week, allowing an add to the position.
The risk scenario is contemplated once a close below 1.0700 is triggered while target is aimed at 1.0810
***Rule to Remember: Gaining 20pips out of any free-signal is highly remarkable as such trades are not updated on time or ever.
USDCAD Rally Incomplete,
Since Friday, USDCAD prints new high mainly after breaking the rectangle that was developed since the start of the month till previous Fri’s rally. The pulse remained positive during the testimony of Yellen helping to punch a close:
1. Above the 38% of the plummet that started at 1.0960, and
2. Above the downsloping trendline with parameters 05 & 18 Jun at the reading of 1.0750
Oscillators point to short term extreme overbought zone which may allow a down side move towards testing that trend line at today’s reading of 1.0742, an entry level.
A plummeting stretch may occur towards 1.0715 as panic is employed during Yellen testimony for a 2nd day and significant CAD data this week, allowing an add to the position.
The risk scenario is contemplated once a close below 1.0700 is triggered while target is aimed at 1.0810
***Rule to Remember: Gaining 20pips out of any free-signal is highly remarkable as such trades are not updated on time or ever.
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