USD/CAD retreats from 1.2600, on weaker than expected
USD/CAD struggles to gain traction above 1.2600, is falling 0.31%, trading at 1.2549
The Canadian dollar has been under selling pressure, as witnessed by the price action in the last three days, down almost 1.70%. Nevertheless, on Friday, the Loonie has recovered some ground, mainly driven by USD profit-taking.
We can see price is now rejecting a major supply zone, also the head & shoulder neckline that have been broke in early October .
Sellers are looking to take control use the lower TF for entries and also wait for confirmation.
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Drop some feedback below in the comment!
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USD/CAD struggles to gain traction above 1.2600, is falling 0.31%, trading at 1.2549
The Canadian dollar has been under selling pressure, as witnessed by the price action in the last three days, down almost 1.70%. Nevertheless, on Friday, the Loonie has recovered some ground, mainly driven by USD profit-taking.
We can see price is now rejecting a major supply zone, also the head & shoulder neckline that have been broke in early October .
Sellers are looking to take control use the lower TF for entries and also wait for confirmation.
If you find this helpful let us know your thoughts on the IDEA
Drop some feedback below in the comment!
Your Support is very much appreciated!
You leave a comment an, let us know how you see this opportunity.
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