This chart shows a **USDCAD 1-hour analysis** with a clear **bearish bias**.
### Key points:
* **Weekly Area of Interest (AOI)**: Around 1.37818–1.38109 — strong resistance area where price previously rejected.
* **Daily AOI target**: Around 1.35953 — expected final target of the move.
* **Price structure**:
* The market is forming **lower highs and lower lows**, suggesting a downtrend.
* Price is currently below the **50 EMA (blue)** and testing the **200 EMA (red)**, showing weakening bullish momentum.
* **Volume Profile**: High volume node left behind above current price, indicating a likely area of supply/resistance.
* **Expected move**: A **pullback and consolidation** is anticipated, followed by a **strong bearish continuation** towards the Daily AOI zone.
This is a **short setup** based on market structure, EMAs, and volume profile, targeting a deeper retracement.
### Key points:
* **Weekly Area of Interest (AOI)**: Around 1.37818–1.38109 — strong resistance area where price previously rejected.
* **Daily AOI target**: Around 1.35953 — expected final target of the move.
* **Price structure**:
* The market is forming **lower highs and lower lows**, suggesting a downtrend.
* Price is currently below the **50 EMA (blue)** and testing the **200 EMA (red)**, showing weakening bullish momentum.
* **Volume Profile**: High volume node left behind above current price, indicating a likely area of supply/resistance.
* **Expected move**: A **pullback and consolidation** is anticipated, followed by a **strong bearish continuation** towards the Daily AOI zone.
This is a **short setup** based on market structure, EMAs, and volume profile, targeting a deeper retracement.
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.
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.