• Renewed US Dollar strength coupled with falling Oil prices due to fear of recession, are the main fundamentals behind the rally of USD/CAD
• Technical picture remains bullish as long as above the slightly ascending trend line and horizontal support at 1.3530
• Long term symmetrical triangle is shrinking which means the breakout is coming soon and the projected target is a huge move ( height of the triangle is almost 2000 pips )
• Short term trading recommendation:
Risk/reward favors a long position at current 1.36 level with stop at 1.35 and target 1.38 (descending trend line resistance)
• No fresh trades are recommended before closely watching the outcome of the FED meeting on Wednesday
Traders, if you like this idea please comment and like ✅
Here to answer all your questions,
Good luck
• Technical picture remains bullish as long as above the slightly ascending trend line and horizontal support at 1.3530
• Long term symmetrical triangle is shrinking which means the breakout is coming soon and the projected target is a huge move ( height of the triangle is almost 2000 pips )
• Short term trading recommendation:
Risk/reward favors a long position at current 1.36 level with stop at 1.35 and target 1.38 (descending trend line resistance)
• No fresh trades are recommended before closely watching the outcome of the FED meeting on Wednesday
Traders, if you like this idea please comment and like ✅
Here to answer all your questions,
Good luck
Ramzi Abou Abdallah, CFTe, CMT
♦️ Subscribe to my telegram channel for daily signals for free, link below:
♦️ t.me/accu_trading
♦️ Subscribe to my telegram channel for daily signals for free, link below:
♦️ t.me/accu_trading