SmartTradingFX

Will USD/CAD now pull back before another move upwards?

Short
FX:USDCAD   U.S. Dollar / Canadian Dollar
3
Looking at a short on this pair back down into the 1.2525 area before maybe another push back upwards! Price now in a key structure level (weekly/daily) with two fib extensions and one fib inversion lining up! RSI is overbought and a double top with divergence (4 hour) may signal exhaustion? Also have harmonic legs for good measure!

Risk reward could be anything from a 1:1 up to a 2:1 depending on your requirements.

Looking forward to seeing how this one plays out and as always any comments and or constructive critisism is welcome!

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.