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Usdcadshort

USDCAD M30: Bearish outlook seen, potential reversal on pullbackOn the M30 time frame, prices are holding below the descending channel where a pullback to the resistance zone at 1.2870, in line with the 61.8% Fibonacci retracement presents an opportunity to play the drop to the support target at 1.2780. This support zone lines up with the -27.2% Fibonacci retracement and descending channel’s support. Failure to hold below the 1.2780 resistance zone could see prices push higher to test the resistance zone at 1.2910. Prices are holding below the Ichimoku cloud as well, supporting the bearish bias.
Short
by T3-Consultancy
USDCAD preparing for a big dropUSDCAD ( Daily) has created a head & shoulder on the daily and strong bearish price action. It is highly likely that it will have a big drop in the monthly support zone. As per price action shown on the daily, we have seen back-to-back 2 bearish engulfing has formed. Also, we have 10EMA and 20EMA cross-over on a daily time frame. We could see a potentially larger drop in the monthly support/trend line. A selling opportunity may arise later today!! If you like this analysis don't forget to drop a comment and like the idea. Thank you for your support!
Short
by ForexWizard01
USDCAD H4: Bearish outlook seen, further downside below 1.2820On the H4 time frame, prices are facing bearish pressure from the resistance zone at 1.2950 which coincides with the graphical support-turned-resistance zone and 38.2% Fibonacci retracement with further downside risks seen. A break below the intermediate support level at 1.2820 would provide the bearish acceleration to our support zone at 1.2680. Ichimoku cloud is showing signs of pressure as well supporting the bearish bias.
Short
by T3-Consultancy
Possible sell scenario for the USDCADAlthough, having conflicting signals from the COT report from last week. Where we can see that institutions are shorting the CAD currency. It is expected to see other currencies gain strength against the CAD. I saw this nice setup from my technical analysis. The pair is at a nice supply level where i am expecting to see a further push to the downside; I am risking just a quarter of one percent on this trade. USDCAD is a volatile pair so trade with caution!!
Short
by BrokerNightmare