Analyze of the USD-CAD 1H
Short-term: : Considering the downtrend and current retracement, a potential short position around the Fibonacci levels (0.5 or 0.618) with a target towards the OB or liquidity zone could be viable.
Long-term: If the price reaches the OB and shows bullish reversal signals, a long position targeting the POI N 1 or beyond could be considered.
The chart indicates a bearish trend with a current retracement. Key levels to watch are the Fibonacci retracement levels (0.5, 0.618), the POI N 1 for potential resistance, and the OB and liquidity zone for potential support.
Trading decisions should be based on price action around these key levels, looking for confirmation signals such as candlestick patterns or volume spikes.
Long-term: If the price reaches the OB and shows bullish reversal signals, a long position targeting the POI N 1 or beyond could be considered.
The chart indicates a bearish trend with a current retracement. Key levels to watch are the Fibonacci retracement levels (0.5, 0.618), the POI N 1 for potential resistance, and the OB and liquidity zone for potential support.
Trading decisions should be based on price action around these key levels, looking for confirmation signals such as candlestick patterns or volume spikes.
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