USDCAD analysis for 24/07

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    Scott EvansScott Evans


    Daily, 15 and 5 min for the USDCAD 24/07. From the daily chart price is above MOR and control is with buyers so would be looking for buy trades.

    On the 15 min chart price just nudges above the DOR on the first marked engulfing candle so this might not be the best place for an entry. Second 15 min engulfing candle is probably a safer option.

    On the 5 minute the cross over candle almost makes it through the DOR but I would say safer to wait for the retrace once price has broken through DOR. As for profit targets there is the gann 50 or the 1.31000 which gives a decent risk to reward ratio.

    Does that sound about right?

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    Rich FittonRich Fitton

    All looks good to me Scott 🙂 Interesting to see how the daily 161.8% served as support the day before too.

    John Murphy


    On the 15 min chart it looks as though you would have been stopped out if you’d used the tight SL setting just below the entry candle. The second of the two candles with long wicks next to it would have done the damage but if using a loose SL then definitely profit to be made.



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