https://fourthstreet.co.ke/wp-content/uploads/2018/12/Weekly-Analysis-USDCAD.jpg 1046 1600 Joshua Matumo https://fourthstreet.co.ke/wp-content/uploads/2018/09/FourthStreet-Logo-Black.png Joshua Matumo2018-12-02 18:15:112018-12-02 19:58:59WEEKLY ANALYSIS TRADE SETUPS & IDEAS: USDCAD
USDCAD (3rd December to 7th December):
Analysis: Price action analysis on this pair shows that it is has reached a major price ceiling/resistance level. A fakey candlestick pattern followed by a pinbar formed towards close of last week; which is a strong indication of an imminent market reversal at the resistance level.
Summary: We will wait for bearish confirmation candlesticks as the market resumes trading this week in order to confirm the trend reversal, and for us to go short on this pair.