USDCAD - ( 4hrs 320 PIP ) Back Down To The Low Of Dec 23?!?
🔹Hello traders, Let's review and go over analysis and strategies for USD / CAD As you can see, price has been in this nice up trend that has formed from Dec 23 to Jan 17 As you can see, prices already started to make a bit of a drawdown to the downside This could just be a pullback, but I think the price is gonna target the low of Dec 23. Meaning that price is going to go down to 1.31791$ or price could make a breakout from this and go to high of Nov 23 If that happens I will be setting a set up for you guys so you can see my thoughts and analysis on this.
🔹NEWS : NEW YORK - The USD/CAD currency pair has seen an upswing near the 1.3500 mark as investors grow cautious due to escalating geopolitical tensions in the Middle East. The Canadian dollar is under pressure following a decline in West Texas Intermediate (WTI) crude oil prices to $72.10 per barrel, which often correlate with the commodity-linked currency's performance.
The US dollar is drawing strength from its safe-haven appeal amid a broader market hesitancy, with bond yields on the rise. Investors appear reluctant to anticipate Federal Reserve interest rate cuts, preferring the security of the US dollar as the Middle East conflict unfolds.
🔹Reasons : As you can see, the price is clearly reacted to the trend line Combined with inner liquidity / Turn level This is a strong combination that signals the price could go down Plus prices in a golden fib area. 0.5 golden fib area and price reacted just to that zone. This is also a major sign for traders to go short. And the visible range hvn - HVN represents a price level with a significant amount of trading volume + would be a value area for the market since price has returned there many times. The overall trend is going to be going down to December low ( 1.31791$ ) I also have marked out the ABCD pattern that has been complete this is also a sign to go short.
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🎁Leave a comment to support me!
🗨️Always trying to come up with more quality setups for you guys!
⚠️Warning ⚠️
before you take this trait or take just my word, go look something up Look up some news That could be coming. More info about it Tomorrow And remember, risk management always 1 : 3 always more gains than losses!
✅Advice ✅
I think that every traveler should start doing is writing down The reasons for their setup on the charts If you can't write 5 down, don't take the trade This is coming from me personally After I did this, I saw major improvement in myself and in my trading so do it!
🙌Have a phenomenal trading day!
🔹NEWS : NEW YORK - The USD/CAD currency pair has seen an upswing near the 1.3500 mark as investors grow cautious due to escalating geopolitical tensions in the Middle East. The Canadian dollar is under pressure following a decline in West Texas Intermediate (WTI) crude oil prices to $72.10 per barrel, which often correlate with the commodity-linked currency's performance.
The US dollar is drawing strength from its safe-haven appeal amid a broader market hesitancy, with bond yields on the rise. Investors appear reluctant to anticipate Federal Reserve interest rate cuts, preferring the security of the US dollar as the Middle East conflict unfolds.
🔹Reasons : As you can see, the price is clearly reacted to the trend line Combined with inner liquidity / Turn level This is a strong combination that signals the price could go down Plus prices in a golden fib area. 0.5 golden fib area and price reacted just to that zone. This is also a major sign for traders to go short. And the visible range hvn - HVN represents a price level with a significant amount of trading volume + would be a value area for the market since price has returned there many times. The overall trend is going to be going down to December low ( 1.31791$ ) I also have marked out the ABCD pattern that has been complete this is also a sign to go short.
🎁Please hit the like button and
🎁Leave a comment to support me!
🗨️Always trying to come up with more quality setups for you guys!
⚠️Warning ⚠️
before you take this trait or take just my word, go look something up Look up some news That could be coming. More info about it Tomorrow And remember, risk management always 1 : 3 always more gains than losses!
✅Advice ✅
I think that every traveler should start doing is writing down The reasons for their setup on the charts If you can't write 5 down, don't take the trade This is coming from me personally After I did this, I saw major improvement in myself and in my trading so do it!
🙌Have a phenomenal trading day!
💲Telegram : t.me/ForceTradingFX
