-Weekly formatting minor double bottom on a support level. (pending)
-Daily divergence on RSI and on MACD.
-Daily bullish power indicated by engulfing bull candle closing near top after the divergence followed by weak bear candles and as the day is coming to an end a bullish hammer is formed(pending).
-Stop Loss below the swing low.
-Take Profit on opposite extreme.
-4.77 r/r
As for fundamentals yearly inflation declined more (3.4->2.8) than expected (3.4->3.0) something that might indicate that the Central Bank will follow a more dovish approach on loonie. Fed on the other hand noticed that there will be another rise in the interest rate this year.
Even though those news are probably discounted are worth mentioning.
-Daily divergence on RSI and on MACD.
-Daily bullish power indicated by engulfing bull candle closing near top after the divergence followed by weak bear candles and as the day is coming to an end a bullish hammer is formed(pending).
-Stop Loss below the swing low.
-Take Profit on opposite extreme.
-4.77 r/r
As for fundamentals yearly inflation declined more (3.4->2.8) than expected (3.4->3.0) something that might indicate that the Central Bank will follow a more dovish approach on loonie. Fed on the other hand noticed that there will be another rise in the interest rate this year.
Even though those news are probably discounted are worth mentioning.