USDCAD: Target towards 1.3200 Until Below 1.3750
USDCAD is moving downwards perfectly in the bearish channel
Following hints are good enough to support the bearish trade idea:
1. MACD is forming a hidden bearish divergence to continue lower.
2. The most recent rising trendline within the bearish channel is broken lower with a successful retest as the resistance.
3. 4 out of the 5 legs impulsive structure are completed and the target for the last leg is derived from the confluence of the prior leg's Fibo Extn.s at 1.3200
Invalidation of the bearish trade idea would be the break above 1.3750
GOOD LUCK FOR YOUR TRADES !!! PLEASE SHOW YOUR SUPPORT IF YOU LIKED THE IDEA
Following hints are good enough to support the bearish trade idea:
1. MACD is forming a hidden bearish divergence to continue lower.
2. The most recent rising trendline within the bearish channel is broken lower with a successful retest as the resistance.
3. 4 out of the 5 legs impulsive structure are completed and the target for the last leg is derived from the confluence of the prior leg's Fibo Extn.s at 1.3200
Invalidation of the bearish trade idea would be the break above 1.3750
GOOD LUCK FOR YOUR TRADES !!! PLEASE SHOW YOUR SUPPORT IF YOU LIKED THE IDEA