ElemontFX
Short

USDCAD REVERSAL SIGNAL

FX:USDCAD   U.S. Dollar/Canadian Dollar
USDCAD             has just spiked up triumphantly, however we expect it to lose its steam just as fast.
Price has touched the Daily Trendline (Upper), failing to break through. We expect a reversal is now imminent, provided the Daily Trendline does not break, as price is now significantly overbought.
We expect price now to fall back towards the closest support level, before a minor bounce and then continuation of the downtrend towards the next support level.
ELEMONT FX
Experienced Proprietary Traders
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