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OrtegaCapital

Bearish outlook on USDCAD: 22 Feb 2022

Short
U.S. Dollar / Canadian Dollar (FOREXCOM:USDCAD)  
OrtegaCapital  
FOREXCOM:USDCAD   U.S. Dollar / Canadian Dollar
Trend Analysis Harmonic Patterns Chart Patterns USDCAD USD CAD usdcadlong usdcadshort Forex forextrading forexsignals
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trendanalysis harmonicpatterns chartpattern usdcad usd cad usdcadlong usdcadshort forex forextrading forexsignals
On the H2 time frame, prices tapped into a resistance area at 1.27735, in line with the graphical resistance area and 100% Fibonacci extension. This presents an opportunity to play the drop to the next support target at 1.26504, in line with the fibonacci confluence level and graphical support. Stochastic is reaching our resistance as well where we could see a reversal below this level
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