USDCAD: Selling Opportunities For Day Traders
Fri 27th January 2023 : Daily Currency Strength Analysis
In Today’s Video we’re looking at Trading Setups in:
- USDCAD
- AUDUSD (Covered in video)
USDCAD: Selling Opportunities For Day Traders
In today’s currency strength video we identified that the United States Dollar (USD) remains on the weak side of both tables, and the Canadian Dollar (CAD) has appeared on the strong side of the day traders table.
The price of USDCAD on the weekly time frame shows the price formed a lower high around 1.3700.
When the price does this we can often see it return to the previously formed lows, in this case the lows of 1.3250.
On the daily chart the price has traded through the recent lows suggesting the market could trend lower.
This could offer selling opportunities for day traders.
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