SmartTradingFX
Short

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

FX:USDCAD   U.S. Dollar / Canadian Dollar
184 2 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!
been long since 22nd June. I agree this is where problems for the pair may arise.

We'll see!

Tom
+1 Reply
SmartTradingFX TomProTrader
Thanks for your comment Tom! Good work being long for the past two weeks or so!
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