USDCAD - Time to Go Back Up

22 May 2017

Hey Traders!

Okay, a long-term trade for Monday. I'm thinking of going long on USDCAD very soon, reasons are the following:

• It has an incredibly strong support/resistance level @1.35
• It is being traded in an uptrend channel and
  
• Right now it is at the 50% of the channel and
  
• 50% of the Fib. Ret. which I love to use - bit differently
  

These are just some points that I am covering right now, there is also beautiful price action and candlestick formation but I will update this post as soon as I enter the trade.

ONLY going to enter if the price can close above the 50%'s ..

22 May 2017

Not

Price is struggling around the 50% of the Fib and TL Channel; I see some room to go down to 0.382 fib.

If I see a little more signal for a bearish trade I will update you but I'm more bullish now on USDCAD.

22 May 2017

Not

As expected USDCAD is coming UP

22 May 2017

Not

@1.351 I enter the buy position; more to follow soon