USDCAD - Short Opportunity Short
U.S. Dollar/Canadian DollarFXCM
Description
⋅ USDCAD has had a long run up followed by a correction the past several weeks. I would be careful about being too eager to play the long side.
1M:
Look at the price action on the 1M chart. Strong rejection off resistance, bearish price action following, bearish divergence, etc.
5th wave count completion at high.
I'm already short and will add more if price moves back to 1.3550-1.3625 area.