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Khurram Mustafa
USDCAD - A Powerful Rally...
From an hourly perspective, the USD/CAD has reached its highest momentum reading of the last 20 days of trading.
Recent USD/CAD longs are speculative and likely vulnerable. Unless they are fed with comforting releases, a torrent of selling could very well ensue in the form of profit taking and/or forced liquidation.
With the fresh printed hourly MACD showing less acceleration, the prospect for a base building or correction in the near future looks to be quite realistic.
Trend Index: BULLISH
OS/OB Index: Neutral
[img]https://charts.mql5.com/9/155/usdcad-h1-forextime-ltd-a-powerful-rally.png[/img]
From an hourly perspective, the USD/CAD has reached its highest momentum reading of the last 20 days of trading.
Recent USD/CAD longs are speculative and likely vulnerable. Unless they are fed with comforting releases, a torrent of selling could very well ensue in the form of profit taking and/or forced liquidation.
With the fresh printed hourly MACD showing less acceleration, the prospect for a base building or correction in the near future looks to be quite realistic.
Trend Index: BULLISH
OS/OB Index: Neutral
[img]https://charts.mql5.com/9/155/usdcad-h1-forextime-ltd-a-powerful-rally.png[/img]
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