USDCAD short and long (Supply and Demand, daily, weekly)

2019-12-09 00:22:18

What happened(weekly/daily structure):
If we look at the weekly structure. We saw the price moved down from a weekly resistance level. At that level we can see a lot of liquidity wicks. It shows pressure from the bears.

Current State:
We saw a big push to the downside during the NFP. Afterwards price formed a new Demand Zone and it pushed the price back to the upside.

Expectation:
I expect now the price to push a little bit lower and then back to the Supply. After the next touch of the Supply Zone I expect the price to drop a little bit. This would be a nice Trade Setup.
After the push I expect the price to go back up. Target for that would be the Resistance Level.

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