#USDCAD SELL OPPORTUNITY LONG TERM
If price fail to come higher than 1H EMA and also rejected from this area which is our static Resistance zone and manage to come lower than 1.26268 means short term bullish corrective move has ended and price can start another drop to 1.25630 and after that because of higher time frame bearish move can also see lower prices.
price at the moment is sitting on 1H & 4H EMA and also we can see bearish divergence which all suggest its a good area for looking to short this pair.
But we should remember if price goes higher than 1.26555 this analysis has failed and our short term trend has confirmed to be bullish.
price at the moment is sitting on 1H & 4H EMA and also we can see bearish divergence which all suggest its a good area for looking to short this pair.
But we should remember if price goes higher than 1.26555 this analysis has failed and our short term trend has confirmed to be bullish.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.