USD CAD strong imbalance

USDCAD forex major cross pair hasn’t been moving much for a few weeks since a very strong daily imbalance was reached last 27th March 2020. The demand imbalance around 1.3925 has been holding several attacks providing short term intraday and scalping opportunities for those trading the smaller timeframes using intraday levels and intraday forex strategies.

USD/CAD scenario short term

Take a look at USDCAD forex cross pair daily timeframe below to see the imbalance I am describing and how it’s been holding price for a few weeks. This is the kind of scenario that a swing trader should not be thinking to trade. When the price does nothing for such a long period of time, it’s better that we stay away from it and wait for a clear opportunity to avoid unnecessary losses.

USD CAD forex price analysis

This is a trading scenario we are not interested in, the buy opportunity on USDCAD already happened last 27th March 2020, we need to see a clear move again before we pull the trigger. In the meantime there are many other forex cross pairs and stocks providing us with way clearer swing trading opportunities. We are expecting USDCAD to drop further.

USDCAD Forex unclear price action

If you want to view more analysis like this you can visit our forex technical analysis page.

Alfonso Moreno
Alfonso Moreno
Full time trader, expert technical analyst and founder of Set and Forget supply and demand online trading community. Traveler, photographer and adventurer.

3 Comments

  1. Erika says:

    Hello, I wish I could download the multiple chart indicator

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