USD/CAD - Short term bearish outlook
On the lower timeframe there is a strong area of support. It's likely price will reject there and move up a little on today's US session. Might see price consolidate and break in the session tomorrow to the downside.
This is what we might see if that happens: A head and shoulders pattern on the top.
But watch the Fundamentals!!
US GDP and the CAD interest rate decision are scheduled this trading session which means price may be very volatile.
Trade closed: target reached:
News pushed this to it's target.
Would not have traded this by myself, purely because of the risk but the technicals were right.
Would not have traded this by myself, purely because of the risk but the technicals were right.
Following the plan nicely