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U.S. Dollar / Canadian Dollar
Short

USDCAD: Strong Resistance Ahead!

By VasilyTrader
snapshot

USDCAD is very close to a strong structure resistance.

1.413 - 1.4175 is the perfect potential reversal zone based on a horizontal structure and a falling trendline.

to confirm the significance of that zone we will be waiting for a breakout of the rising wedge pattern on 4H.
then we can short the pair aiming at 1.403 / 1.395


bias will switch to bullish in case of a bullish violation of the underlined structure.
CADcanadiandollarChart PatternsCurrenciesForexfxtraderTrend AnalysisUSDUSDCADUSD (US Dollar)Wave Analysis
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