Amazing couple weeks for one of my all time favorite pairs. We have seen a huge 200 pip range for this pair for months directly under the weekly 50% Fib Retrace. In my last analysis posted I hinted that this was the first Lower High for the huge 1600 pip drop and we could see sellers take back the market from this range. 2 days later this came true with a meltdown of over 300 pips!
USDCAD has now hit 1.250 area which is a huge area of resistance/support for this pair looking back through its history. I want to see a pullback from this price but currently do not see any seller exhaustion wicks. Do not get caught in any countertrends for this pair unless your confluence more then lines up because pips move quick on this pair. I am now looking for a re entry from a 4 hour retrace & will update pair throughout this month for entry/major moves.
LETS GOOOOO BABBBBBYYYYYY!!!!!!!
USDCAD has now hit 1.250 area which is a huge area of resistance/support for this pair looking back through its history. I want to see a pullback from this price but currently do not see any seller exhaustion wicks. Do not get caught in any countertrends for this pair unless your confluence more then lines up because pips move quick on this pair. I am now looking for a re entry from a 4 hour retrace & will update pair throughout this month for entry/major moves.
LETS GOOOOO BABBBBBYYYYYY!!!!!!!
