Good day legendary traders
It’s another opportunistic Wednesday for us, and you know what that means?
It means trading opportunities are lurking all over our charts, it’s left for us to figure out where they are all hidden.
That said, let’s go straight into our charts and fish them out.
1. USD/CAD
USD/CAD on the daily chart is in a descending channel and guess what?
The present candlestick that is still being formed, is a bearish doji. If the candlestick closes this way, we may most likely see price drop due to the high influx of sellers trooping into the market.
If this happens, there is a great possibility that price may hit level 1.28093 before the trading week comes to an end.
I am appealing, good money management technique should be applied before taking this trade.
2. USD/CHF
The USD/CHF is going through the same predicament USD/CAD is going through. If you look closely, the pair is locked in a daily descending trend and to crown it all, a bearish doji seem to be lurking.
Note that we can only authenticate price direction to a great degree after the 10 pm candlestick closes. If the candlestick closes with a bearish doji, we could see price on a bearish downward spiral to its next support level (0.98624)
Kindly comment if this article has been of any importance or if you have contrary views. Also share to other fellow traders
Do have a great day ahead.
