Hello Traders,
Great opportunity to add a short position to USD/CAD.
Looking at the lower 1hr TF, the 200 day MA lines perfectly up with the supply zone (see screenshot below).
4hr TF is currently forming a short divergence while closing in to the supply zone and 50 day MA (see screenshot below).
Target is recent low, but can certainly go further than that.
The Lines on the chart are as follow:
Red: 200 MA
Blue: 50 MA
Grey. 20 MA
Black: 8 EMA
Great opportunity to add a short position to USD/CAD.
Looking at the lower 1hr TF, the 200 day MA lines perfectly up with the supply zone (see screenshot below).
4hr TF is currently forming a short divergence while closing in to the supply zone and 50 day MA (see screenshot below).
Target is recent low, but can certainly go further than that.
The Lines on the chart are as follow:
Red: 200 MA
Blue: 50 MA
Grey. 20 MA
Black: 8 EMA
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