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T3-Consultancy

USDCAD 1H: Bearish outlook seen, further downside below 1.3420

Short
U.S. Dollar / Canadian Dollar (FX:USDCAD)  
T3-Consultancy  
FX:USDCAD   U.S. Dollar / Canadian Dollar
Trend Analysis Harmonic Patterns Chart Patterns DJ FXCM Index USDCAD usdcadshort usdcadbearish Forex forexsignals forextrading
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trendanalysis harmonicpatterns chartpattern usdollar usdcad usdcadshort usdcadbearish forex forexsignals forextrading
On the 1H timeframe, price is showing strong bearish correction. A pullback to the resistance zone at 1.35, which coincides with the 61.8% Fibonacci retracement, and a break below downside confirmation at 1.345 could present an opportunity to play the drop to the resistance-turned-support zone at 1.342. Price is holding below ichimoku clouds and 20 EMA, supporting our bearish bias.
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