USDCAD Short Analysis

9 de out. de 2018

We have seen price trade within this descending wedge pattern on the Daily timeframe. Today we had a superb candlestick formation complete at an area of massive confluence. Daily price action formed a tweezer top/high test candle rejecting the 1.3000 psychological and daily key level, the 50ema, and the upper boundary of the wedge pattern. I will be expecting price to fall from here to revisit the monthly support level at 1.2800.