USD/CAD Unless oil rockets, then the pair has room to rise.
From June till now, we’ve been in a range-bound market, with multiple failed attempts to break lower.
But now we’re seeing higher lows forming, and price is bouncing off my fvp zone @ 1.36600 . So if the Fed stays patient and oil stays weak or sideways, USD/CAD bulls have the upper hand. I am expecting a bearish retest soon to develop @ Key Bullish FVP Zone: 1.36600, but if 1.3577 gets violated with strength, then scratch the long idea — it might be time for CAD bulls to party instead.
Extreme Discount Zone: Just below at 1.36000,
If the price dips into this area, it could be a liquidity hunt. But if not, then the bulls will have to come in and drive the market to the
1st Take Profit Target: 1.38400
But now we’re seeing higher lows forming, and price is bouncing off my fvp zone @ 1.36600 . So if the Fed stays patient and oil stays weak or sideways, USD/CAD bulls have the upper hand. I am expecting a bearish retest soon to develop @ Key Bullish FVP Zone: 1.36600, but if 1.3577 gets violated with strength, then scratch the long idea — it might be time for CAD bulls to party instead.
Extreme Discount Zone: Just below at 1.36000,
If the price dips into this area, it could be a liquidity hunt. But if not, then the bulls will have to come in and drive the market to the
1st Take Profit Target: 1.38400
Trade closed: target reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.