Get started
Investroy

USD/CAD: a potential for a bearish continuation

Short
U.S. Dollar / Canadian Dollar (OANDA:USDCAD)  
Investroy  
OANDA:USDCAD   U.S. Dollar / Canadian Dollar
Support and Resistance Fibonacci Parallel Channel USDCAD priceaction Technical Analysis Forex forextrading parallelchannels investroy
11
6
supportandresistance fibonacci parallelchannel usdcad priceaction technicalanalysis forex forextrading parallelchannels investroy
As it can be inferred from higher-timeframe charts of USDCAD, the sentiment of the market has turned bearish. After breaking out of the ascending channel plotted on the graph, the price is currently attempting to re-test the key zone portrayed on the chart and complete the formation of a H&S pattern before continuing its bearish movements.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.