UCAD has been performing beautifully between the 1.33 and 1.34 range. We can expect a continuation of this trade with an intraday day move back down the 1.33 zone.
Not that much risk here, this could fall pretty hard.
UCAD staircasing its way up to the supply Zone in a loose ABCD formation, dont sell it now there are plenty of reasons to sell it in the peak supply area instead.
Quick sell idea. Could break this resistance and reach 1.354 area however. I have a tight SL at 1.35150
BOC rate hike is expected Dollar seems to be getting rejected again at resistance UCad also hitting resistance and fail to break RR is good so short opened --
USD CAD hit resistance and it looks like Inverse H & S could be made RR is good since stop is right above the entry
USDCAD short setup looking nice perfect rejection of 50-61.8 fib retracement area after breaking the bullish trendline on 4H timeframe
Personal analysis on USDCAD based on the daily and weekly timeframes. looking for a daily candle to close on its way down below the 0.50% retracement level on weekly and around 0.38% retracement levels on the daily. We could see a reversal being done around these areas.