Potential Big Drop for USDCAD pair
There is a bearish head & shoulders trend that has formed for the UC pair on the H2/ H4 graph which is clearly visible as I've pointed out on my analysis.
Alongside with the analysis the Canadian GDP is sitting on a real low so we are looking a good spot for shorting this pair.
I will be watching this pair for the next day or two to see any movement but I am expecting a large drop of around 100+ pips.
I have put the initial short entry at 1.28449 however as I am watching the movement this may change and I will update this post if so.
TP1: 1.2747
TP2: 1.2707
TP3: 1.2624
SL: 1.295
Alongside with the analysis the Canadian GDP is sitting on a real low so we are looking a good spot for shorting this pair.
I will be watching this pair for the next day or two to see any movement but I am expecting a large drop of around 100+ pips.
I have put the initial short entry at 1.28449 however as I am watching the movement this may change and I will update this post if so.
TP1: 1.2747
TP2: 1.2707
TP3: 1.2624
SL: 1.295
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