JonPetridis

USD CAD predictions

FX:USDCAD   美元 / 加元
25 0 0
General possibilities and future outcomes.

Using only Support + resistance, with trend lines .

Support + resistance colour : Blue

Trend lines colour : Yellow


Predictions for price action
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If you are to follow the red arrows i believe a clean break
of the first trend line B and also the support + resistance
line at 1.29499 will call for alot more Bearish action to come
taking price right back down again.

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By following the light blue arrows i would suggest a quick short
then back to the current price for more support + resistance which
is at 1.30466 and from then on who knows....

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Finally, the green arrows. If price is to continue rising by breaking
support +resistance line D to 1.31105 i believe we would be expecting
a large amount of buying pressure going into mid September and price
would rocket.

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Please comment with your predictions or any other comments you may
have.

I personally will be going short expecting to take profit around the
1.28000 mark HOPEFULLY,

Would just like to say i am completely new to fx and i would appreciate
any suggestions + help.

Thanks.

Happy trading!

Jonny P
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