R2R-James

heading to the downside

Short
FX:USDCAD   U.S. Dollar / Canadian Dollar
Using both the 4hr and the daily chart here we can clearly see a clean rejection from the outer structure, following that we have also broke below the red zone which is a previous s/r zone in which we have rejected this area twice now on the 4hr chart. with that we have our red zone also lining up with the 382 and the 50% fibs almost acting as a good target area for short positions. Breaking below the red zone we came up and now testing this zone. Predicted to go lower this week