HELLO TRADERS
Before we talk about USDCAD lets first take a look at the dollar index DXY
DXY has been bullish and recently managed to break above a strong resistance @ 103.7,
we expect a retest of this resistance and a continuation higher, as we know bullish
DXY indicates a bearish USDCAD
(DXY chart below)
Now back to USDCAD, after a break of strong support @ 1.355 and currently
correcting to retest it, a continuation higher is expected to the upside
targeting previous highs @ 1.365
BREAK BELOW 1.35 WILL INVALIDATE THIS IDEA
GOOD LUCK
Before we talk about USDCAD lets first take a look at the dollar index DXY
DXY has been bullish and recently managed to break above a strong resistance @ 103.7,
we expect a retest of this resistance and a continuation higher, as we know bullish
DXY indicates a bearish USDCAD
(DXY chart below)
Now back to USDCAD, after a break of strong support @ 1.355 and currently
correcting to retest it, a continuation higher is expected to the upside
targeting previous highs @ 1.365
BREAK BELOW 1.35 WILL INVALIDATE THIS IDEA
GOOD LUCK
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