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You could only upload a photo that will show everything and confirm yesterday’s analysis, but a small comment should be made 🙂
In connection with the expected data, the dollar boost in which investors believed was noticeable. The pairs with the US dollar move as expected in the morning, an additional argument is the fact that on Monday the US has a holiday .. Market liquidity may be lower due to the lack of American liquidity providers such as Banks. Probably not everyone knew or remembered, but a good trader must look ahead a bit to be prepared for possible market changes .. ?
We are currently approaching a local resistance where a stop can occur, but seeing the momentum the currency pair is moving, it doesn’t have to. Breaking the resistance zone into which the pair entered will give a positive impulse for further increases. However, if we stopped and bounced, then we wait for a retest of the resistance level, and we enter short positions from a low time frame with a relatively small Stop Loss protection.
Yesterday’s analysis had a small margin of error and the low was a few pips lower, but investors quickly pushed the pair back onto the right track. If the macroeconomic data is better than expected, we can see the USDCAD pair even at a level around 1.2828 where our highest zone shown in the image is.
Of course, I repeat that we do not enter into transactions by force. There are plenty of opportunities every day. Possible transactions, if someone is not holding long position since yesterday, we enter only after breaking the resistance and another level retest.
