USDCAD initially fell but then rallied. We have to note that this pair had a big sell off the previous week. This resulted in the break of up trend line on the 4-hour time frame and then this week’s rally is towards the broken trend line.
Watch the price action around the re-test of the trend line, which also co-coincides with the resistance zone shown on the chart. Look for exhaustive candles to go short on this pair.
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