Even though we have a descending channel with clear lower lows and lower highs, it's important to have a plan for long and shorts.
Longs are valid with a break of structure and a push above 38.2% fib level but highly doubtful.
Europe Covid continues to surge and CAD is backed by surging oil prices.
Also add the 3 EMA's forming just above price and take into account that both the descending trend line and 38.2 fib level and the confluences scream shorts to the 61.8% extension
Longs are valid with a break of structure and a push above 38.2% fib level but highly doubtful.
Europe Covid continues to surge and CAD is backed by surging oil prices.
Also add the 3 EMA's forming just above price and take into account that both the descending trend line and 38.2 fib level and the confluences scream shorts to the 61.8% extension
