Chapter 36 USDCAD Range down to the old demand
8/12/2022
Summary
Initial jobless claim drives the market
fundamental analysis
today we have news on USD weekly initial jobless claim the news come negative as expected at 230K on the other hand Yesterday we have an interest rate decision in the Canadian dollar Which is the increase the interest rate decision to 4.25%
Technical analysis
We see in the 4H diagram chart Market trading now at1.35799 We could see the 4H chart anchor has been breakout to the downside Unmark it as well trending below the 20 moving average All these signs give me permission to look for sell We expect the market to continue down until the previous demand zone at 1.34184
Suggestion
Scenario #1
Sell 1.35799 SL 1.36594 TP 1.34184
Scenario #2
Buystop 1.36500 Sl 1.34900 TP 1.38010
