USDCAD Potential 14R

Possible Buy Zone - above 1.3140
Why;
Buy Higher Highs because of strength
Must have;
USD Strength
CAD weakness
OIL weakness
Potential Long Term;
14R 1400/100,
12R 600/50

Trade aktif:

Back in trade - buy on pullback at bottom of zone.
NFP friday tomorrow.

Komentar:

Plan A - Possible Long with Trend continuation.
If: pullback to of value to entry (50 EMA). Then Long.
Why:
Oil remaining weak for the near future.
CAD weak for near future.
USD strong for near future.
And follow shallow and very choppy bullish trend.

Or Plan B - Wait until NFP Friday /Oct is a good catalyst typically to find a breakout in either direction. Entry as swing trade. Long or Short.

Or Plan C- Watch for reversal - possible sell off on fridays /oil inventory reports.
This pair is also well known for its swings between S/R Zone.
Potential top now, Look for an indication of reversal for Swing trade.
I never trade this pair for long term with a entry on friday. But I may take a few pips from a bracket trade on a news event.

Or Plan D - If: Too choppy and flat - Then: sit on my hands and watch, wait for NFP Friday.