USDCAD: Intraday Bearish Outlook Explained 🇺🇸🇨🇦

٦ نوفمبر ٢٠٢٣

https://www.tradingview.com/x/4sEqXSrI/

USDCAD is trading in a falling parallel channel on an hourly time frame.
I also spotted a descending triangle formation within.

The violation of a horizontal neckline of a triangle is a strong intraday bearish confirmation.

The price will most likely keep falling.
Goals: 1.3630 / 1.3615

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٧ نوفمبر ٢٠٢٣

ملاحظة

After the market reached the first target,
the price bounced and violated a resistance of the channel, invalidating a trading setup