Possible short opportunity on USDCAD.
Price has rejected at resistance (1.2860) and displaying bearish momentum.
a break in the 200 day EMA and the trend line could call for a short opportunity in which price could return to support at the 1.2625 level.
Confirmation of breakout:
-Strong closed 4H bearish candles
- Break in the trend line and 200 day EMA
- Signals from MACD and RVI
Price has rejected at resistance (1.2860) and displaying bearish momentum.
a break in the 200 day EMA and the trend line could call for a short opportunity in which price could return to support at the 1.2625 level.
Confirmation of breakout:
-Strong closed 4H bearish candles
- Break in the trend line and 200 day EMA
- Signals from MACD and RVI