FX:USDCAD   U.S. Dollar/Canadian Dollar
31 0 1
As this month's candle completes it is highly likely to form a hanging man which is a bearish signal.

I have done a wave count from the most recent bottom and would appreciate anyone's thoughts on my labelling. I believe if we reach the 1.3350 area soon it would be a good entry point for a short position as we enter a potential corrective phase.

I have used 1.3350 area as a resistance line as this was an area of strong support in the nineties.


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