After USDCAD has been moving in a downtrend, it has paused a bit to retrace to a resistance which touched the trendline and a major level which it was resisting for quite a long time, I am looking forward to selling this currency pair on Monday for a long term trade but I will first have to wait for a good price on lower time-frames...But overall I think it's still continuing with its Bearish trend
anyways we never know where the market will head on Monday but all the best if you decide to take this trade
- The MACD supports this
- The resistance level
- The Bearish/Downtrend movement
- The last closing candle on the resistance was a 1D bearish candle, a Bearish pin-bar
anyways we never know where the market will head on Monday but all the best if you decide to take this trade
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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.