USD/CAD - Wait for this before going short by ThinkingAntsOk
4H CHART EXPLANATION:
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🔸 Price has reached a Major Resistance Zone, and was rejected there.
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🔸 We consider it has bearish potential.
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🔸 The target of the downside move is the first Support Zone, and, if it is broken, then the next one.
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🔸 We will look for a lower timeframe bearish setup only if the Ascending Trendline is broken.
DAILY CHART ANALYSIS:
.
.
🔸 Price has reached a Major Resistance Zone, and was rejected there.
.
🔸 We consider it has bearish potential.
.
🔸 The target of the downside move is the first Support Zone, and, if it is broken, then the next one.
.
🔸 We will look for a lower timeframe bearish setup only if the Ascending Trendline is broken.
DAILY CHART ANALYSIS: