It’s been more than a year USD getting weaker against CAD
Price is about to hit 5 Year low price at around 1.20 area
We cannot expect a major reversal at this point in time but we can have some long opportunities if the price prints some short term reversal price action
Let’s see 4 Hr price structure
- Buyer might starts to lose strength – look for small red candles dragging the price down slowly
- Look for larger wicks to show price rejecting to close lower
Let’s see how 15Min trend looks like
The trend still looks intact with sellers controlling, however we will only look for long once we momentum change
- Price break 15Min swing point and start making higher lows indicated
- Price breaks the downtrend channel slowly with a corrective pattern
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