Description :
Looking at the H4 chart, my overall bias for USDCAD is bearish due to the current price being below the Ichimoku cloud, indicating a bearish market. Looking for a pullback sell entry at 1.33036, where the overlap resistance and 38.2% Fibonacci line is. Stop loss will be at 1.33796, where the recent high is. Take profit will be at 1.32259, where the previous swing low is.
Trading Recommendation
Entry: 1.33036
Reason for Entry: Overlap resistance and 38.2% Fibonacci line
Take Profit: 1.32259
Reason for Take Profit:
Previous swing low
Stop Loss: 1.33796
Reason for Stop Loss:
Recent high