There is a potential head and shoulder pattern forming nicely on the 4hr chart. For confirmation of a short, look for a break of the neckline of the pattern and a retracement back to the neckline (now resistance) before entering.
The overall recent trend of USD/CAD has been bullish, but we could be seeing a retracement to fibonacci support levels from the recent trend
Disclaimer: this is just an idea and not investment advice. Trade smart!
The overall recent trend of USD/CAD has been bullish, but we could be seeing a retracement to fibonacci support levels from the recent trend
Disclaimer: this is just an idea and not investment advice. Trade smart!