USDCAD / H4 / Daily Forex Technical Analysis / 6.14.2019

Hello Traders, welcome to the Daily Forex technical analysis. Today is June 14th, 2019 and we will be taking a look at the U.S. Dollar against the Canadian Dollar. Looking at the 4 hour time frame we are looking for price action to reach its previous area of resistance near the 1.336 region and stall out. If price action reaches this area and does lose momentum we will be preparing to enter short. Entry for a Short position near the 1.33621 area, with a Stop Loss near the 1.33953 zone, and a target level area of 1.32842 could possibly ensure a profitable trade with a 2.35 to 1 R/R.