USD/CAD Look Ahead for week starting 11/24/19

The US-Canadian Dollar has been in a long-term Bull Market with price trading above the 50 week ema which is above the 200 week ema which is trading above the 800 ema. The 50 week ema is currently flat, implying a period of consolidation. This is a currency pair that can be traded from both the short and long side.

The Pair is coming out of a Deep Correction on the daily, with price above the 50 ema, which is below the 200 ema. This is clearly an up-trend for now with price above the 9 ema and the 50 ema pointing up. Looking at the price action since July there is clearly and a-b-c uptrend going on with price climbing in the c-wave up above the 1.333 to 1.338 range which is acting as a magnet of liquidity. With all of the emas rapped tight around the 50 & 200, sell-offs should be contained by the 800 ema on the down side.

The Pair is on the verge of being in a Bull Market with price above the 50 and the 50 and 200 climbing above the 800 ema on the four-hour. The pair is selling off from a level 1 consolidation and should sell down towards the lower up trend line before heading up again. Next week will likely be a down-trend after a weekend consolidation, and a likely mid-week reversal to head back up.

This is my USD/CAD look ahead for my own trading purposes. FOREX trading involves risk. Feel free to comment, but trade off of this post at your own peril.