I would say that USD/CAD is very bearish.
Alot of wick rejection of 1.33115, a very delicate zone 1.32963, yesterday we closed as a hanging man in very delicate zone(for me)
a zone where if we go back in history, we can see in that zone alot of rejections for downside.
Also if we look at the monthly timeframe, we can see that the trend is bearish, we closed as a bearish engulfing.
USD/CAD moves in correlation(negative) with AUD/USD - which is very bullish because it hit major support.
My golden TP is 1.30806.
Of course there are alot of supp which we need to break, lets see what happens.
4H timeframe.
Monthly timeframe - Clearly bearish engulfing at a major res 1.3800
Alot of wick rejection of 1.33115, a very delicate zone 1.32963, yesterday we closed as a hanging man in very delicate zone(for me)
a zone where if we go back in history, we can see in that zone alot of rejections for downside.
Also if we look at the monthly timeframe, we can see that the trend is bearish, we closed as a bearish engulfing.
USD/CAD moves in correlation(negative) with AUD/USD - which is very bullish because it hit major support.
My golden TP is 1.30806.
Of course there are alot of supp which we need to break, lets see what happens.
4H timeframe.