Hey everyone welcome to this week's forecast for the USDCAD.
As seen on the chart price has managed to close BELOW the Engulfing Bar that occured the week of Sept 2nd.
Bulls tried to push price back up but could not close above the high of the Engulfing Bar. I see this as a signal that Bears are in control in the medium term.
After a sea of green candles within the past couple of months, we finally have 2 consecutive red candles on the weekly timeframe. Bears closed strongly each time.
USDCAD could be primed for a very big down move especially with the FOMC interest rate decision and the Bank of Canada interest rate decision coming before month end.
October could be a very big mover for the USDCAD, right now my bias is SHORT on the weekly timeframe.
But if you guys have been following me you know I will give you guys potential intraday trades during the week, these trades may be long or short stay tuned!
Please comment, like, and follow if you like my ideas. I continue to try to improve every single day and appreciate any sort of feedback and discussion. Thanks for all the love and support.
Daily trade analysis and ideas:
Telegram: t.me/Forexdojo
Facebook: www.facebook.com/FXShinobi
Twitter: forex_dojo
Instagram: Jaylen.Forex
Website: www.forexshinobi.com
ForexShinobi
As seen on the chart price has managed to close BELOW the Engulfing Bar that occured the week of Sept 2nd.
Bulls tried to push price back up but could not close above the high of the Engulfing Bar. I see this as a signal that Bears are in control in the medium term.
After a sea of green candles within the past couple of months, we finally have 2 consecutive red candles on the weekly timeframe. Bears closed strongly each time.
USDCAD could be primed for a very big down move especially with the FOMC interest rate decision and the Bank of Canada interest rate decision coming before month end.
October could be a very big mover for the USDCAD, right now my bias is SHORT on the weekly timeframe.
But if you guys have been following me you know I will give you guys potential intraday trades during the week, these trades may be long or short stay tuned!
Please comment, like, and follow if you like my ideas. I continue to try to improve every single day and appreciate any sort of feedback and discussion. Thanks for all the love and support.
Daily trade analysis and ideas:
Telegram: t.me/Forexdojo
Facebook: www.facebook.com/FXShinobi
Twitter: forex_dojo
Instagram: Jaylen.Forex
Website: www.forexshinobi.com
ForexShinobi
