Hello traders,
Am I the only one finding CAD-strength across the board? I am seeing a few CAD-pairs tilting towards the side of the Looney.
In particular, I’d like to point out the EURCAD which is breaking through a long term up-trendline - if that breakout confirms, we might see further down-moves from 1.5400 to 1.5200, and I will try to squeeze some pips off that move. Moreover, the NZDCAD is also heavily trending south and I am just waiting for a pullback before searching for short opportunities.
But I reckon it’s best if I show you the setups in the following video!
PS: in yesterday’s video I was talking about EURAUD’s bounce off a long-term up-trendline, remember? well, have a look at EURAUD today: a solid bullish price action all day long! Like I always say, it does pay off paying attention to the long-term charts!
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17 May, 3:42 am
As far as USD-CAD is concern i believe that there is still one more downturn to form a W shape formation in the monthly time frame chart. After that then there is a decisive future for the pair it could be a mega uptrend that everybody have waiting for so long.
20 May, 4:21 pm
Well…the Euro/Cad looked like it was on its way to a breakout/pullback/continuation move but it looks like it stalled up on the pullback. (4hr)
No sense in shorting the pullback as it would be into support so I guess sitting on the hands is the way to go at this point.
Yes?