USD/CAD - Potential Further Drop After Retracement
Hello Traders!,
Happy Monday, I hope everone's had an enjoyable weekend, despite the current ongoings with whats happening in USA and other countries
What Is The Markets Telling Us?
Happy Monday, I hope everone's had an enjoyable weekend, despite the current ongoings with whats happening in USA and other countries
What Is The Markets Telling Us?
- We see a massive drop off on US dollar strength, possibly due to widepread protest which will cost the country millions in repair
- Upon New York Session opening we can see a retest of resistance @1.3730, followed by a significant drop, MAs are above price
- This is a great example to show how fundamentals and technicals co-operate within the market
- Will be looking to execute SELLS once price has reached our retracement area
- Although, we may see consolidation if there is a insufficient amount of volume, or even price may not reach our retracement area
- All in all, before entering for a SELL, it will be ideal to see some sort of consolidation/retracement followed by bearish bias before selling
Trade fechado: objetivo atingido:
