USDCAD Analysis October 25, 2020

On the monthly timeframe we are heading downward with the moving averages just crossing. On the weekly timeframe we are consolidating a bit but still below the moving averages and overall bearish. On the H4 timeframe is where I see structure the clearest in the sense that we are forming LH’s and LL’s. Although we re about to pullback, as long as we maintain below 38.2% we can continue to push suing our fib and market structure.