#USDCAD - HEAD and SHOULDERS on DAILY TIME FRAME
WEEKLY TIMEFRAME - Price is currently Struggling to break above 200 ema on the weekly time frame. Price does seem to be starting to push towards the upside however is meeting great resistance at the 200 ema.
DAILY TIMEFRAME - Price is currently pressing against a strong support support zone, there is no current sign of a reversal however price may pullback to a higher strong consolidation zone based on how price is meeting the daily 200 ema. We may see a rejection off of the 200 ema.
EXECUTION TIMEFRAME - 4H TIMEFRAME - Price has just met a strong resistance point at roughly the 1.26407 price point. We should see price consolidate furthermore at this current price level, then make a move upward to the 1.27200-1.27300 week consolidation zone. Then we may see a move to the 1.27600-1.27800 strong consolidation zone. The execution will be based off of the MACD and price action; waiting for the MACD to crossover as well as price to make a strong push to the downside, either in the form of an engulfing candle, or a series of strong bearish candles.
DAILY TIMEFRAME - Price is currently pressing against a strong support support zone, there is no current sign of a reversal however price may pullback to a higher strong consolidation zone based on how price is meeting the daily 200 ema. We may see a rejection off of the 200 ema.
EXECUTION TIMEFRAME - 4H TIMEFRAME - Price has just met a strong resistance point at roughly the 1.26407 price point. We should see price consolidate furthermore at this current price level, then make a move upward to the 1.27200-1.27300 week consolidation zone. Then we may see a move to the 1.27600-1.27800 strong consolidation zone. The execution will be based off of the MACD and price action; waiting for the MACD to crossover as well as price to make a strong push to the downside, either in the form of an engulfing candle, or a series of strong bearish candles.