Usdcad in a nice area for shorts, weekly resistance area, double top on the daily and a reversal pattern on the 4hr chart, keep in mind that the cad is highly influenced by the oil so anything can happen
On the USDCAD we have a potential bearish bat pattern taking shape. Entry and completion at point D. The entry is just below the 1.32000 mark, which is a reasonable psychological number.
Target: 1.31013 = R:RR 2.12
Good luck traders!
Perfect Bat pattern on USDCAD currently in formation. We also have a strong zone at the same area and the 161.2% and the 88.6% are at the exact same point so we have a few confirmation saying that at 1.33300 we should see a reversal or around that area!