spesfinancial
Short

USDCAD Short bias but have to wait

FX:USDCAD   U.S. Dollar/Canadian Dollar
25 0 3
Friday's large bearish candle indicates short bias for USDCAD             pair, but a direct breakout through the key short-term support zone is not expected to bring a good downside performance. If price could test some resistances above before taking breakout, it is expected to continue going down to the day support zone . Therefore, it is reasonable to look for intraday short signal on the blue area above or below the suppot zone.

Trading above the zone is with higher risk, but trading below the zone may cause mssing the trend with no reasonalbe short signal. So be careful and protect the position asap             if choosing to open short position above the key short-term support zone .
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