USD/CAD potential sell out
overall the flow the market is bearish
weekly timeframe the market it respecting the previous high, and now just recorded a bearish engulfing candle. with a potential drop to 1.23500\
Daily timeframe the market broke two higher lows, ending the uptrend run. Now we should wait for a pullback to continue selling
4hr timeframe the 9 and 50 emas have crossed down given another indication of the trend. Looking for a pullback to 1.28000 50% of IC and also a 78% fib retracement to then look for a sell
USDCAD
Trade at your own risk, this not a financial advice simply a chart analysis
weekly timeframe the market it respecting the previous high, and now just recorded a bearish engulfing candle. with a potential drop to 1.23500\
Daily timeframe the market broke two higher lows, ending the uptrend run. Now we should wait for a pullback to continue selling
4hr timeframe the 9 and 50 emas have crossed down given another indication of the trend. Looking for a pullback to 1.28000 50% of IC and also a 78% fib retracement to then look for a sell
USDCADTrade at your own risk, this not a financial advice simply a chart analysis
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