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Salzworth

Bearish outlook on USDCAD - 8 February 2023

Short
U.S. Dollar / Canadian Dollar (FOREXCOM:USDCAD)  
Salzworth  
FOREXCOM:USDCAD   U.S. Dollar / Canadian Dollar
Trend Analysis Harmonic Patterns Chart Patterns USD USDCAD usdcadshort usdcadbearish Forex forexsignals forextrading
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trendanalysis harmonicpatterns chartpattern usd usdcad usdcadshort usdcadbearish forex forexsignals forextrading
Prices have broken below a key support zone at 1.3380 on the H1 timeframe. A pullback to this level, which is in line with the 50% FIbonacci retracement, could provide the bearish acceleration to the next support zone at 1.3320, which coincides with the 78.6% Fibonacci retracement. Prices are lying below the Ichimoku Cloud as well, supporting our bearish bias.
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