Weekly chart shows the possibility of a big long in USD/CAD
USD/CAD has been dropping relentlessly over the past few weeks.
However, the downtrend has slowed down and a reversal might be on the corner.
Price is currently at the multi-year lows near 1.2080 from where a reversal might
take place.
A long entry between 1.2050-1.2100 with SL below 1.20 and TP at 1.25 is an attractive
buy set-up provided some bullish price action happens in the lower TFs.
However, the downtrend has slowed down and a reversal might be on the corner.
Price is currently at the multi-year lows near 1.2080 from where a reversal might
take place.
A long entry between 1.2050-1.2100 with SL below 1.20 and TP at 1.25 is an attractive
buy set-up provided some bullish price action happens in the lower TFs.
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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.
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.