Bearish Setup on USDCAD
Here we see that USDCAD retraced to the 0.618 Fibonacci level and is respecting the recent support zone to the left. We can see that this market is trending downwards (creating lower highs and lower lows). If it continues to show bearish price action I'll be looking for shorting opportunities on lower timeframes. Stay tuned for further updates!
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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.