UsdCad strong bearish setup
Updated
Theres a nice opportunity on selling UsdCad the upcoming week(s).
The daily time frame shows there a bit more space left to the upside
before it touches the restistance at 1.3575.
You can sell it at CMP with a stop at 1.3620. Maybe add another sell
position if it does touch the resistance.
1.33 would be the first target follower by 1.3180. Ultimately long term it might
break below 1.30 again.
Besides the restance area that is approaching the Stoch Rsi and Adx indicators also justify a
sell, On both indicators you can see that selling pressure and a bearish trend is taking over.
The daily time frame shows there a bit more space left to the upside
before it touches the restistance at 1.3575.
You can sell it at CMP with a stop at 1.3620. Maybe add another sell
position if it does touch the resistance.
1.33 would be the first target follower by 1.3180. Ultimately long term it might
break below 1.30 again.
Besides the restance area that is approaching the Stoch Rsi and Adx indicators also justify a
sell, On both indicators you can see that selling pressure and a bearish trend is taking over.
Trade active
stop-loss at 1.3640.Take profit around 1.32
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