USDCAD might reverse very soon
USDCAD is facing stiff resistance at the 1.3300-1.3340 area which is expected.
At this point, both the sellers and buyers are on the sidelines waiting for a move to happen.
In my opinion, price will reverse very soon. However, there might be a fake breakout of the resistance level to generate some liquidity before dropping.
I have already executed sell orders and I will look to add some more if I see rejection or a fake breakout at the resistance
At this point, both the sellers and buyers are on the sidelines waiting for a move to happen.
In my opinion, price will reverse very soon. However, there might be a fake breakout of the resistance level to generate some liquidity before dropping.
I have already executed sell orders and I will look to add some more if I see rejection or a fake breakout at the resistance
Note
One additional sell order executed at 1.3323
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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.