USDCAD SHORT IDEA!!!
The general trend of USDCAD is a downtrend, indicated by the red trend line.(This means bear moves are more likely to win than bullish moves).
Therefore, price will either re-trace back up the trend line/near the trend line and then resume its bearish momentum.
Or price will break and close below the zone labelled zone 2 and continue with its bearish momentum till the next zone.
Therefore, price will either re-trace back up the trend line/near the trend line and then resume its bearish momentum.
Or price will break and close below the zone labelled zone 2 and continue with its bearish momentum till the next zone.
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