FX.co ★ Daily Video Analysis: USDCAD facing bearish pressure, potential for further downside!

Today we take a look at USDCAD. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups. Price is facing bearish pressure from our sell entry level, which is in line with our 61.8% Fibonacci retracement. We could potentially see a further push down from this level towards our 1st support level, which is in line with our -27% Fibonacci retracement level as well.