USDCAD Short Trade Set Up Jan 2020

OANDA:USDCAD   U.S. Dollar / Canadian Dollar
Simple short trade set up on USDCAD .

Nice 4hr rejection of the daily 0.618 fib level. Price is rejecting it and has the potential to make a daily lower high here before heading back down to previous support at 1.29500

Risk trade - Short here at the 0.618 (1.31800) and hope for the 1hr trend and 50EMA to break.

Easier Trade - Wait for a 1hr lower high to be made and sell there.
Jan 28
Comment: 1.32 key level seems to be holding strong. Looks like a bearish leg will occur next.
Jan 28
Trade active


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