USDCAD / H1 / Daily Forex Technical Analysis / 4.23.2019

Hello Traders, welcome to the Daily Forex technical analysis. Today is April 23rd, 2019 and we will be taking a look at the U.S. Dollar against the Canadian dollar. Looking at the 1 hour time frame we can see price action has retraced back around to the 1.33631 area. Price action coming back to these levels coincides with the 50% fib retracement level and seeing a rejection here, we maybe getting another opportunity to set our selves up for a profitable short position. Entry for a Short position near the 1.33631 area, with a Stop Loss near the 1.33725 zone, could ensure a profitable trade with a 2.06 to 1 R/R. We are so thankful to have you tune in, please feel free to write a comment or leave feedback, any advice is greatly appreciated. Have great day and good hunting out there traders!