I closed my buys yesterday and starting to look for sells now.
DXY has been bullish the last couple days but it looks like it may be topping out. It has reached the structure highs, 0.612 fib zone (from the weekly perspective) and a key level which I am expecting to resist for this idea.
For DXY , keep an eye on 92.5 area and 92.665 area.
USDCAD is currently at a weekly key level support and LTF BearishStructure support , respected since the end of Jan. I am hoping for one more surge to the upside creating a fakeout liquidity grab and then strong push down. There could be some consolidation in this area before we see that strong downward move.
The current USDCAD structure appears to be a corrective structure of the HTF bearish structure, it could create a downward move to break the lows and extend as far as the -0.272 fib level.
Invalidation: A daily candle close above the 0.786 fib.
Let me know your thoughts.
Potential USDCAD Swing Trade Sells by Heet007 on TradingView.com