USDCAD,🔴Will the price drop further?🔴

As you can see, I expected that the price rose to more than 180 Pips and had a bearish reaction after collecting the liquidity above the previous high.

Now, by examining the 12-hour chart we can see the price created the FVG and I expect it to fill in the short term, then we can define a bullish order block where we should study the price in the lower time frame and see the bullish reaction in this zone.

So if the price stays below 1.3506, the price falls more to 1.3366- 1.33875



💡Wait for the update!
🗓️07/02/2024
🔎 DYOR

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Comment:

The price dropped more than 46 Pips and had a bullish reaction after touching 50% of FVG.
Let's see if the price can fill the FVG or will rise from here.