USDCAD OUTLOOK for next week.
- On the weekly we see that the price is on a very important zone, and is very oversold.
On the daily we see that the price has rejected on that zone. We also see that the downtrend is broken on the 4H TF + retested.
- What price are we looking for? We are looking for the price going to 1.23650, which is at the previous low.
- Where do we enter? If we look closer to the 1H, we see that the price is in a downtrend - in the retest phase. -
We can place a buy stop above the last lowest high. - 1.21335.
- Where do we place our Stop Loss? - 1.207 - Below the Daily bearish retest candle.
On the daily we see that the price has rejected on that zone. We also see that the downtrend is broken on the 4H TF + retested.
- What price are we looking for? We are looking for the price going to 1.23650, which is at the previous low.
- Where do we enter? If we look closer to the 1H, we see that the price is in a downtrend - in the retest phase. -
We can place a buy stop above the last lowest high. - 1.21335.
- Where do we place our Stop Loss? - 1.207 - Below the Daily bearish retest candle.
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