We will wait to see how the market opens on monday; if see price above 0.96801 we go long else if we see price below 0.69562 we go short with caution as the potential level is pretty close to the entry and would be tight.
RSI has shown an indication of upward exhaustion.
RSI showing signs of exhaustion with price breaking a 2 candle close while RSI didn't share that same enthusiasm. Looking for entry under 0.65046 to the downside with possible support @ 0.64477.
NOT YET SHORT ---> STAYING NEUTRAL.
After hitting resistance for the 2nd time @ 1720.46 as well as RSI showing exhaustion to the topside; we are most likely to see price go downward to see support @ 1687.57.
Lets see how the market opens and gives us a possible entry.
We have just gone short on USDCAD after seeing an engulfing candle on the 4hour as well as confirmation on the bollinger bands.
As you can see our STOP is right above the upper band and will be looking forward to seeing price go downward as well as pick up some momentum. USDCAD
We are also keeping track of USDCHF as the setup is the same except that the...