USDCAD: Corrective structure in short term?

27 Ağu 2023

Many of you already know this big picture on daily chart, in the last few weeks we have been following this beautiful rally. Having said that, the trend is bullish on daily chart, but at the same time we don't rule out some corrective structure i short term. From a technical point of view, we have shown on the chart two potential areas useful for trying to take a short position.
As we said earlier, our view has been bullish over the last few weeks and we traded the rally thanks to our harmonic structure:
(click on chart below)

From a technical point of view, it could be interesting to look for some reversal pattern (bearish) on intraday chart, so if the conditions are right, we will publish our updates below.

29 Ağu 2023

Not

🔔 The Trend is bullish, and at the moment there are no Reversal Patterns on intraday chart:

30 Ağu 2023

Not

💥 Intraday support breakout (DOUBLE TOP PATTERN)

30 Ağu 2023

Not

📊 Intraday Chart (1H):

30 Ağu 2023

Not

📊 1H chart:

31 Ağu 2023

Not

🔴 The same level on daily chart:

1 Eyl 2023

Not

🔴 Daily Chart Update:

19 Eyl 2023

Not

🔴 Rebound in short term.