Hello and welcome to my Trade Idea of the currency pair USD/CAD.
Lets start with the Top Down Analysis.
Monthly: Monthly is bullish but due to the 2 huge bearish candles I am divided opinion. There was also a LH formed as well as a possible LL.
Weekly: On the weekly timeframe, we see because of the huge bearish candles that we are bearish. The price reacts perfect to the weekly RES and its possible that the price can't close above the resistance.
Daily: On daily we see a beautiful downtrend with a little bullish pullback and look for short entrys
H4: After the touch from the weekly RES we expect a push to the downside. As well we draw the counter trendline and wait for a confirmed breakout.
Have a nice day.
Lets start with the Top Down Analysis.
Monthly: Monthly is bullish but due to the 2 huge bearish candles I am divided opinion. There was also a LH formed as well as a possible LL.
Weekly: On the weekly timeframe, we see because of the huge bearish candles that we are bearish. The price reacts perfect to the weekly RES and its possible that the price can't close above the resistance.
Daily: On daily we see a beautiful downtrend with a little bullish pullback and look for short entrys
H4: After the touch from the weekly RES we expect a push to the downside. As well we draw the counter trendline and wait for a confirmed breakout.
Have a nice day.