Today let's analyse the USDCAD currency pair. FYI, these pairs consider as Major pairs in currency pairs.
From a weekly perspective, we can see clearly this pair currently completing a market structure before starting a downtrend rally. If you guys analyse carefully, you guys will see the market momentum getting weaker which is mean, this pair going to change direction after the market structure completed.
Let's zoom into 4 hours timeframe, we were able to see there was a clear indication price was no longer able to break higher and we can consider it as HNS as well. Personally, I open my managed risk by applying a lot distribution strategy to maximizing profit and minimizing losses.
Let's see what gonna happens next. "Dance with the Market Guys" Cheers