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T3-Consultancy

USDCAD H4: Bearish outlook seen, further downside below 1.2840

Short
U.S. Dollar / Canadian Dollar (FX:USDCAD)  
T3-Consultancy  
FX:USDCAD   U.S. Dollar / Canadian Dollar
Trend Analysis Harmonic Patterns Chart Patterns USDCAD USD CAD usdcadlong usdcadshort Forex forextrading
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trendanalysis harmonicpatterns chartpattern usdcad usd cad usdcadlong usdcadshort forex forextrading
On the H4 time frame, prices broke its previous ascending trend line where we could see further downside risks. A pullback to the resistance zone at 1.2840, in line with the support-turned-resistance area and Fibonacci confluences could see a reversal below this zone to the support zone at 1.2680. Prices are holding below the 50 EMA as well, supporting the bearish bias.
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