Hi everyone
USDCAD looking for more downside potential.
Overall on the higher time frame, we see strong bearish momentum to down side, and price has been correcting itself for possible continuation.
Structure wise, we see a larger Head and Shoulder pattern, and an ascending structure break out on the 1hr chart.
What I am waiting for is some smaller correction in the lower time frame for continuation sell.
I am expecting the price to continue down to the previous lows if we get a confirmation right shoulder broke out to the downside
Thank you
USDCAD looking for more downside potential.
Overall on the higher time frame, we see strong bearish momentum to down side, and price has been correcting itself for possible continuation.
Structure wise, we see a larger Head and Shoulder pattern, and an ascending structure break out on the 1hr chart.
What I am waiting for is some smaller correction in the lower time frame for continuation sell.
I am expecting the price to continue down to the previous lows if we get a confirmation right shoulder broke out to the downside
Thank you
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Higher Time Frame:
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