#USDCAD: Bears In With Steam, Bulls Swiped! #Forex
Traders,
A little update, price has moved very well since I last posted this pair as an analysis (See related ideas). Rounded top at previous horizontal resistance, and at long term Fibonacci retracement of previous bearish impulse leg showing a gradual shift of demand from bulls to bears in the rounded top, right at what is considered a strong resistance. Looks good for downside. With Crude Oil -0.28% suddenly rallying a move down from here does seem extremely likely.
A little update, price has moved very well since I last posted this pair as an analysis (See related ideas). Rounded top at previous horizontal resistance, and at long term Fibonacci retracement of previous bearish impulse leg showing a gradual shift of demand from bulls to bears in the rounded top, right at what is considered a strong resistance. Looks good for downside. With Crude Oil -0.28% suddenly rallying a move down from here does seem extremely likely.
