USDCAD- Price trading inside strong bearish . Impulse Short entries can be taken once price retest the previous low region.
Once price rejects that area, we can look at immediate market execution.
It’s worth noting that the dovish comments from the Federal Reserve (Fed) officials, including Chairman Jerome Powell, joined softer US employment-linked data to propel the Gold price the previous day. On the same line was the easing in the virus-led activity controls in China as the dragon nation reports the third day of declining daily infections after refreshing the record top. Jerome Powell Signals Fed Prepared to Slow Rate-Rise Pace in December
Fed chair says a labor-market slowdown will be needed to bring inflation back to the central bank’s 2% target. We will be monitoring the direction of this asset after the key NFP data the next day to see the general direction of this pair before making an entry.
Potential short entry with following confirmations.
TP - Green Zone
SL - Red Zone
R:R Ratio - 1:3.17
✅ Oscillator downward trend
✅ Trend catcher
✅ Below 25, 50, 100 EMA
✅ Bearish trendline downward channel
Once price rejects that area, we can look at immediate market execution.
It’s worth noting that the dovish comments from the Federal Reserve (Fed) officials, including Chairman Jerome Powell, joined softer US employment-linked data to propel the Gold price the previous day. On the same line was the easing in the virus-led activity controls in China as the dragon nation reports the third day of declining daily infections after refreshing the record top. Jerome Powell Signals Fed Prepared to Slow Rate-Rise Pace in December
Fed chair says a labor-market slowdown will be needed to bring inflation back to the central bank’s 2% target. We will be monitoring the direction of this asset after the key NFP data the next day to see the general direction of this pair before making an entry.
Potential short entry with following confirmations.
TP - Green Zone
SL - Red Zone
R:R Ratio - 1:3.17
✅ Oscillator downward trend
✅ Trend catcher
✅ Below 25, 50, 100 EMA
✅ Bearish trendline downward channel