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pasojov

USDCAD - Bearish retest of significant level

Short
U.S. Dollar / Canadian Dollar (OANDA:USDCAD)  
pasojov  
OANDA:USDCAD   U.S. Dollar / Canadian Dollar
Support and Resistance Fibonacci Candlestick Analysis USDCAD Shooting Star usdcadshort shortsetup short usdcadanalysis rejection
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supportandresistance fibonacci candlestick usdcad shootingstar usdcadshort shortsetup short usdcadanalysis rejection
This could be a perfect entry for a long term short to 1.19.

USDCAD broke the long term (2008 to 2020 peak) 0.618 level and closed bearishly below it. Price has now come back to retest the level. After wicking into it, the level was wicked through but closed very bearishly (red arrow). Next major support is 1.227 (200 pips away).

Entry: 1.24985
Stop: 1.25689
TP: 1.22764
R:R: 3.2

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