AmplaFX

USDCAD Bearish Reversal Cycle

Short
FX:USDCAD   U.S. Dollar / Canadian Dollar
Good afternoon ladies & gents ,

USDCAD will most likely start it's Bearish Cycle today and NFP is likely to be the catalyst. After trading up into the Weekly Inflection point, we saw a sharp rejection to the downside. Price has presented us with D1 SMT Divergence allowing DXY to fill the imbalance above and USDCAD has filled the imbalance above whilst not making a new high.

In light of this, I do anticipate a short to occur today ( Bearish Sentiment on DXY ) and today, it's possible to enter with a stop above the highs.

Many opportunities to enter next week if not today.

Disclaimer: This is my idea, take and execute this idea at your own risk and discretion. Remember to manage your risk appropriate on the off chance that I'm wrong.

-AmplaFX
Comment: SL moved to BE.

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