USDCAD Sell Oppurtunity

5 thg 7, 2020

USDCAD has broken out of its ascending channel on the H4 and looks to be respecting the daily downtrend structure. Price has touched the key zone and has bounced away, momentum looks to be shifting to the downside as price breaks through support zone and tested as resistance and continues to move to the downside. 50 SMA is above 8 SMA with price action rejecting our fib 0.382 zone. Set up looks very promising with atleast 3 confirmation signalling movement to the downside. Will take a sell position with stop above zone and targets set at extreme lows.