View Full Version : Eklavya - USDCAD
I am starting this weekly thread so I can post my weekly analysis of USDCAD. I will use my analysis for creating up my bias for the subsequent week. Please feel free to comment in my analysis. I guess using another standpoint is only going to be better.
As expected, the pair close above the resistance. However, it appears to very tentative looking at the Friday candle also might fall down. On the lookout for some confirmation that this week. If that is a up week, which I believe it will be, the pair should reach up to the 50 Fib degree above.
https://forexintuitive.com/attachments/1527738727717279794.jpg
The pair dropped down strongly this week. This was mostly due to the volatile world markets. In addition per the COT report there is apparently a feeling of indecision between the advertisements and the speculators with the speculator postions decreasing their net long over the previous few months.
Right now I'd stay out of this pair until it offers a sense of direction.
https://forexintuitive.com/attachments/1527738729757431.jpg
The pair is inching up after a very long downtrend. It took a temporary retracement for fourteen days and is again inching upwards. There is a short-term resistance upwards that I believe will be broken up this week.
https://forexintuitive.com/attachments/1527738725202874675.jpg
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