USD/CAD 1D (THIS WEEKS FORECAST)
having followed this pair all of last week i am still predicting a large move down as of right now though price could do one of 2 things.
firstly and in my opinion least likely the pair could move up and try to re test the resistance level
or most likely drop down a few hundred pips and start off the trading week on a positive
- my analysis is as follows...
the rsi though still moving up is well into the overbought zone and the adx values have increased further still over the weekend confirming my downward bias. however the roc seems to have stalled presently so i would advise waiting a few hours to see if a more acurate signal can be established
firstly and in my opinion least likely the pair could move up and try to re test the resistance level
or most likely drop down a few hundred pips and start off the trading week on a positive
- my analysis is as follows...
the rsi though still moving up is well into the overbought zone and the adx values have increased further still over the weekend confirming my downward bias. however the roc seems to have stalled presently so i would advise waiting a few hours to see if a more acurate signal can be established
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