USDCAD Possible Short

٧ مايو ٢٠٢٠

Price reached the high of the parallel channel and a strong resistance zone which might be an early signal of a bearish reversal. Notice the RSI divergence.
Consider a short-term sell if bears break 1.41224

٧ مايو ٢٠٢٠

ملاحظة

After the impulsive bearish move and breaking the important 1.40072 support zone, market is now in a over-extended condition so I except a retracement move to the broken support and if bears could successfully manage to protect that area another bearish impulse would be expected