Here on USDCAD
we can see that price has been trending downwards since early March while also still managing to stay within a consolidation zone ranging from 1.41500 to 1.38700. Price recently started to show signs it is trying to make a lower lower and continue its trend down. Price recently broke out of a structure and found strong resistance at 1.39600 indicating that it has potential to move much lower. Another reason as to why I am selling this pair is due to the fact that the DXY
has been dropping and with things in the US only getting worse it seems logical to look for sells.
Entry : 1.39223
SL: 1.39728 (50Pips)
TP: 1.37203 (200Pips)