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khalilmcmillan

USDCAD - Strong bearish continuation?

Short
U.S. Dollar / Canadian Dollar (FOREXCOM:USDCAD)  
khalilmcmillan Updated   
FOREXCOM:USDCAD   U.S. Dollar / Canadian Dollar
Trend Analysis
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trendanalysis
After this strong downward movement, UCAD clearly breaks structure bringing us to a confirmed, new downtrend. My early short bias is because of the strength of the downtrend - it won't retrace too much before continuing.
Comment:
This is a daily chart. Entry was based on the the retest of an H4 indecision zone after and bearish engulfing off of the 38.2 price reversal zone.
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