USDCAD Long

Waiting for a cross in DI's in the ADX indicator in the daily chart which might happen sometime next week. Regardless, with weekly chart showing a recovery, Fed rate hike that might happen sooner, and if price action in 1H chart continues to be bullish between now and tomorrow, setting up a buy stop order just above recent hourly high with TP few pips below R2 pivot line and TP at R4.


efxnews.com/story/35415/usdcad-higher-n-term-lower-where-target-danske

D:


W:



Confidence: B (with oil price rising, this pair most likely will be choppy between 1.29-1.33; more caution is needed to avoid getting whipsawed)