USD/CAD - 31/08/2019
PLEASE SEE LAST WEEKS ANALYSIS.
Weekly:
The weekly candlestick has broken the descending TL and moved to the upside. However, it could still be just part of a retracement in the long run, where we would be targetting 1.29000.
Daily:
The daily candlesticks are struggling to break above the 1.33300 area.
4HR:
The 4hr charts are also ranging between the 1.33300 area and the 1.32600 area.
I will wait for a breakout of this ranging area before taking any trades. The trades have been put in place, but I will first wait for a break, then a retest. Within the trades, I have put areas of concern where you could scale out or be wary of.
Weekly:
The weekly candlestick has broken the descending TL and moved to the upside. However, it could still be just part of a retracement in the long run, where we would be targetting 1.29000.
Daily:
The daily candlesticks are struggling to break above the 1.33300 area.
4HR:
The 4hr charts are also ranging between the 1.33300 area and the 1.32600 area.
I will wait for a breakout of this ranging area before taking any trades. The trades have been put in place, but I will first wait for a break, then a retest. Within the trades, I have put areas of concern where you could scale out or be wary of.
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