USDCAD Pending Short at Potential Reversal Zone
Update: First target hit, moved stop to break-even.
Profit/loss(pips)=85
A push towards 1.0510 area could provide a shorting opportunity, as price completes a harmonic AB=CD at the 78.6 retracement level for the whole decline, marking this area a confluence of Fibonacci levels, in addition to the descending resistance for the recent sideways range, which is currently around the same area.
Profit/loss(pips)=85
A push towards 1.0510 area could provide a shorting opportunity, as price completes a harmonic AB=CD at the 78.6 retracement level for the whole decline, marking this area a confluence of Fibonacci levels, in addition to the descending resistance for the recent sideways range, which is currently around the same area.