USD/CAD Long-Term Trend: Bearish
Key Resistance Levels: 1.2690, 1.2767, 1.2815
Key Support Levels: 1.2581, 1.2495, 1.2422
The price on the higher time frame has been in a downtrend for many days and we saw a pullback. Price touched a resistance zone of 1.2815 and then it made a rejection candle. We expect the pair to continue the bearish move.
USD/CAD Medium-Term Trend: Bearish
On the lower time frame, the price has been moving in a bearish structure and as we can see in the chart, there have been many rejections from the upside and the price has broken the trendline. Our bearish view should remain valid as long as the price is below the upper trendline.
Sell Limit Order @ 1.2625
TP 1 @ 1.2565
TP 2 @ 1.2530
Stop Loss @ 1.2655
Trade Safely 🙂