There is a possibility of a USDCAD short here. I must preface, I do like USDCAD long on the 4 hour chart ONLY if we break the resistance zone at 1.3150.
We are failing to do so which is why this 2 hour short set up has some traction. We have rejected this resistance zone, and on the current candle, we are clearly seeing where the sellers are indicated by the long wick.
Would await to see a break and close BELOW 1.3120 before entering a position.
We are failing to do so which is why this 2 hour short set up has some traction. We have rejected this resistance zone, and on the current candle, we are clearly seeing where the sellers are indicated by the long wick.
Would await to see a break and close BELOW 1.3120 before entering a position.