USDCAD - Price trading inside strong bearish . Impulse Short entries as price has retested the previous low region and rejected. FOMC showed that dollar would have short term weakness as well.
The US Dollar has displayed sheer losses after surrendering the critical support of 106.00. The mighty US Dollar has dropped to near 105.70 and is exposed to test the three-month low of 105.34. S&P500 futures are holding their gains recorded in Tokyo. The 500-stock basket is expected to remain quiet as US markets will remain closed on Thursday on account of Thanksgiving Day. The 10-year US Treasury yields are hovering below 3.69%.
Less-hawkish opinions by the Federal Reserve (Fed) policymakers as recorded in Federal Open Market Committee (FOMC) minutes have cleared that days of a bigger rate hike by the US central bank are over. To reduce financial risks and to observe the efforts made by Fed in decelerating inflation yet, teammates of Fed chair Jerome Powell have vouched for slowing down the interest rate hike pace.
Potential short entry with following confirmations.
TP - Green Zone
SL - Red Zone
R:R Ratio - 1:2
✅ Oscillator downward trend
✅ Price out of EQ Cloud
✅ Trend catcher
✅ Bearish trendline downward channel
The US Dollar has displayed sheer losses after surrendering the critical support of 106.00. The mighty US Dollar has dropped to near 105.70 and is exposed to test the three-month low of 105.34. S&P500 futures are holding their gains recorded in Tokyo. The 500-stock basket is expected to remain quiet as US markets will remain closed on Thursday on account of Thanksgiving Day. The 10-year US Treasury yields are hovering below 3.69%.
Less-hawkish opinions by the Federal Reserve (Fed) policymakers as recorded in Federal Open Market Committee (FOMC) minutes have cleared that days of a bigger rate hike by the US central bank are over. To reduce financial risks and to observe the efforts made by Fed in decelerating inflation yet, teammates of Fed chair Jerome Powell have vouched for slowing down the interest rate hike pace.
Potential short entry with following confirmations.
TP - Green Zone
SL - Red Zone
R:R Ratio - 1:2
✅ Oscillator downward trend
✅ Price out of EQ Cloud
✅ Trend catcher
✅ Bearish trendline downward channel
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In profits now, can close partials!!!