FX.co ★ USD/CAD: outlook on September 11

Monthly chart

On the monthly time frame, there is an Equal High area that the pair could target, especially since the general trend is upward and the stage in which the pair is currently moving in sideways. it could rise to also target the Liquidity pool above this sideways.

Weekly chart

The same applies to the weekly frame, as there is no reason to decline, and the price rebounded more than once from a strong order block area at 1.32109 and then formed Higher Lows, and it is possible to complete this rise targeting liquidity.

Daily chart

As for the daily, there is a good chance for the decline to make some corrections before the start of the rise and reaching the targeted liquidity, because in order to reach the liquidity, it needs a strong push, and the order block at the level of 1.32638 will be this push.

What also supports the decline is the presence of a Moving Average 200 above the current price and the presence of an order block in the same zone.

H4

The four hours also support the decline, especially the presence of an order block with high momentum. What also confirms this area is the Inducement that precedes the order block, so the price may decline from the current level.

Points of interest (POI)

sell from: 1.3565 (Current price)

TP 1: 1.3506 (Targeting the first imbalance)

TP 2: 1.3440 (Targeting the first structure) or you can target Daily ob at 1.32652 (will be a Long term trade)

Stop loss: 1.36190 (Above the previous High)