FX.co ★ USDCAD Potential for Bearish Drop towards previous swing low

Description :

Looking at the H4 chart, my overall bias for USDCAD is bearish due to the current price crossing below the Ichimoku cloud, indicating a bearish market structure. Looking for a pullback sell entry at 1.33524, where the overlap resistance is. Stop loss will be at 1.34280, where the recent swing is. Take profit will be at 1.32259, where the previous swing low was.

Trading Recommendation

Entry: 1.33524

Reason for Entry: Where the overlap resistance is

Take Profit: 1.32259

Reason for Take Profit:

Previous swing low

Stop Loss: 1.34280

Reason for Stop Loss:

Recent high