USD/CAD

Long UC TP 1.238

I dont think 1.2180 will get hit soon, but on the other hand, 1.2380 is probably safe for now.

support but as oil will break resistance

Hello

Market Makers may be pushing higher to fill short positions. Volume decreasing on this short term up move. CCI 210 still below zero. Price close to the EMA 50. Market Makers can push higher still in next few hours before another drop lower or we can move lower again from the current levels.

See chart - but this is only opinion.

It will not pull back to 1.2380 again this month... it is a kind of impossible before reaching 1.2044

As I suspected, 1.2180 was not reached on this push down. I still think 1.2380 is out of reach for now, though, but it will probably be a 'close call'

I'm going to short from these levels

I didnt understand... the dollar should go high... I see the opposit ... why?

Is this 4H bearish candle a trap for shorts? I think so

And it also suggests that yes, 1.2380 will probably be taken out

But why the dollar pulled down again while it should resume the up after 1.2353 after the positive news?

I closed my long.
I think top at 1.235 , my view is now is bearish TP 1.22.
could be wrong.
will see.

will seek to reload long at 1.22 (if it reaches that, otherwise missing the train).
will see how PA reacts at that level.

seems to me, upward movement ran out of steam

Usd/Cad is consolidating below 1.2300 level, immediate support level can be found at 1.2280, on the upside resistance level can be found around 1.2325.

Imho, current situation is deformed from the bank's interventions to make sense of the true short term direction. Without getting into much detail,to be safe wait for a north shooting start in the area of 1.24 before another sale. the downside could be limited by 1.2150 or 1.2060. Just my speculation.

The market is in a strong uptrend. Trends aren't aligned on multiple timeframes so this entry carry some risk but have high reward potential for few weeks . The price can do a fake up movement and suck long traders and then fall , this why aggresive risk management should be applied on every trade to cut losses.

By Wyckoff we are in a downward motion. However, there is a chance the rollback to 1.245
But now we are at the 50% level of monthly range

Dollar sounds to be very week! no good news is having any good impact on it... whats happening?