Expecting potential rejection of the pair from the Major Supply Zone and pullback to the weekly central pivot around 1.2458. Stochastic and RSI showing the bearish diversion on 4hr and Daily charts therefore confirming my idea. OBV just dived below 200 MA. Stay tuned and lets see what will happen!
USD/CAD looks like continuing to fall. It has been following the bottom trend line and breaking support levels. CAD has been very strong and USD is expected to continue weakening so I do not think this will change soon. It broke support yesterday (14th Jan) and is testing it as resistance today. If this rejects the resistance then expect a fall to the trend line.
price struggled to break through support zone, 4hr bearish candle engulfed previous bullish which was further confirmation for an entry. multiple placed with SL at 30 pips. tp1 hit bagging two trades of 40pips each..swinging to next zone at 1.340.
USDCAD is testing the top of downtrend line from 2016-Momentum indicators are suggesting for the upside to be limited-it is likely to test the 61.8% fib to then start of fresh falls. I am looking for sell setups around 61.8% area for a bigger target towards prior lows.