USDCAD: Classic Range Trading 🇺🇸🇨🇦

Short

U.S. Dollar / Canadian Dollar (OANDA:USDCAD)

Updated

OANDA:USDCAD U.S. Dollar / Canadian Dollar

Candlestick Analysis Parallel Channel Rectangle USDCAD DJ FXCM Index dollar USD canadiandollar priceaction priceactionanalysis priceactiontrading

candlestick parallelchannel rectangle usdcad usdollar dollar usd canadiandollar priceaction priceactionanalysis priceactiontrading

snapshot

Hey traders,

As we earlier discussed, USDCAD is stuck within a horizontal trading range.
Yesterday the price reached its upper boundary.

A bearish engulfing candle that was formed then is a perfect indicator of the strength of sellers.
For that reason, the pair will most likely drop to 1.269 / 1.2665 levels.

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Check my new idea on GBPAUD:

GBPAUD: Bearish Continuation 🇬🇧🇦🇺

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