Tom_Killick

USDCAD: Bulls Out Of Steam At Action Level, Downside? #Forex

FX:USDCAD   U.S. Dollar/Canadian Dollar
149 2 10
Traders,

Compelling bearish signals at the top of the range at the sideways resistance line shows investors clearly
acknowledged this level as a place for potential downside opportunity. It appears the bulls have been swiped and a new downside agenda is clear. Expecting to see strong lows from this move, with a logical target being the sideways support level , bottom of structure. Crude Oil             prices continue to rally, meaning it makes logical sense to consider shorting Canadian dollar             crossovers.

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Looks like an opportunity...
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@derby, Wasn't so lucky this time, there will be opportunity when price hits the top of structure again.
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