USDCAD#2 ---> Waiting for sell:

Good day dear #investors and colleagues #traders.

Your attention a technical analysis of the currency pair #Usdcad:

#Comment_to_past_week:

All last week, the currency pair spent in a narrow trading range of 76 points. And it closed at all with a less significant change, only -27 points (-0.21%).

Despite positive macroeconomic data, #CAD is difficult to grow, given the constant risk of lower consumption of oil products by #China and the current behavior of prices for #oil.

#Technical analysis:

Globally (D1):

The currency pair found a stable level at 1.3233, which acts as a support, as the Fibonacci zone 23.6% of the movement from 1.2962 to 1.3316. And this helps the couple try a second time, storm the most important resistance zone, which has been operating since August 7, 2019.
This zone: 1.3337-1.3348, 4 times held back the currency pair. Will she hold back this time?

Locally (H1-H4):

On smaller time frames, an upward channel remains formed, albeit adjusted.

By tradition, we call the weekly support and resistance zones:

A) Support: 1.3191 and 1.3158;
B) Resistance: 1.3267, 1.3310 and 1.3343;

#Orders_and_position:

Our asset valuation system demonstrates that the currency pair is in the zone of potential sales.
We will seek consolidation or activation of sellers to open short positions with the following parameters:

Selling in the zone 1.3337-1.3348 with #stoploss 1.3400 and #takeprofit at 1.3200-1.3150.

(! Attention, these are preliminary price levels and we reserve the right to change them in our trading).

!Attention, you should not enter a position, as soon as the price enters this zone, you must wait for either consolidation or activation of sellers.

Regards to subscribers,
Ltd ”Wermelgion and Partners Investment”

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