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francesgurton

USDCAD - Short

Short
U.S. Dollar / Canadian Dollar (FX:USDCAD)  
francesgurton  
FX:USDCAD   U.S. Dollar / Canadian Dollar
Trend Analysis Chart Patterns Technical Indicators USD CAD USDCAD short downtrend Forex Bearish Patterns breakouttrading
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trendanalysis chartpattern indicator usd cad usdcad short downtrend forex bearish breakouttrading
Possible short opportunity on USDCAD.

Price has rejected at resistance (1.2860) and displaying bearish momentum.

a break in the 200 day EMA and the trend line could call for a short opportunity in which price could return to support at the 1.2625 level.

Confirmation of breakout:
-Strong closed 4H bearish candles
- Break in the trend line and 200 day EMA
- Signals from MACD and RVI
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