USD/CAD (1D) Multi-day Short
- Rejection at 200sma on the daily
- Chuvashov fork break
- Rejection at 38.2% fib
- CURRENT weakness in the USD
- Oil has a negative correlation with USD/CAD. Oil is currently trending bullish.
Possible supports:
- 200sma on the 4 hour
- Ichimoki cloud on the daily
- 23.6% fib retracement on daily
My first profit target is 1.29863 or the bottom fork/trendline, whichever is higher. A break of that and I aim to target the low of 1.24616 with a trailing stop loss.
- Chuvashov fork break
- Rejection at 38.2% fib
- CURRENT weakness in the USD
- Oil has a negative correlation with USD/CAD. Oil is currently trending bullish.
Possible supports:
- 200sma on the 4 hour
- Ichimoki cloud on the daily
- 23.6% fib retracement on daily
My first profit target is 1.29863 or the bottom fork/trendline, whichever is higher. A break of that and I aim to target the low of 1.24616 with a trailing stop loss.
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