USDCAD is extremely interesting in my opinion and today I will share my analysis on it. The pair has completed a double wave up on the daily chart and it is near a very strong resistance zone. Hence we can expect it to move lower from the current levels or a bit higher.

Technical Analysis:

D1 – double wave duplication, bearish divergence

Entry:
H1 – Look for a false break of the trend line and go short
Target 1: Up Trend Line on H1 (blue line)
Target 2: D1 20 MA
Stop Loss: above last high

Video Explanation:

Yours,
Vladimir