As USDCAD rejected level 1.27000 and USD's inflation is 5% and above with no signs of any Rate hike as the FEDs remain on a Dovish Stance. I am looking to short as it touches my limit of 1.26807. Do note that CAD's CPI report is also coming out later today, I would be aware of it as it would Significantly affect the price of this pair. I've set a time limit based on my personal calculation where if failed, the limit would be Voided. Take profits would be around the uptrend trendline/liquidity imbalance from the previous bullish candle push.
"Sell Limit as price is rejecting 1.27000 level. Entry is on the retest of H1 bearish candle. USD expected to tank as inflation is high and there is no sin of FEDs increasing their rates anytime soon. TP is expected to be at trendline/previous liquidity. Be aware the CAD is releasing CPI report at 8.30p.m."
"Sell Limit as price is rejecting 1.27000 level. Entry is on the retest of H1 bearish candle. USD expected to tank as inflation is high and there is no sin of FEDs increasing their rates anytime soon. TP is expected to be at trendline/previous liquidity. Be aware the CAD is releasing CPI report at 8.30p.m."