USDCAD Downside Breakout

Short

Dollar Américain / Dollar Canadien (FOREXCOM:USDCAD)

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FOREXCOM:USDCAD Dollar Américain / Dollar Canadien

Support and Resistance Candlestick Analysis Multiple Time Frame Analysis USDCAD Forex trading analysis daytrading priceaction breakout

supportandresistance candlestick mtfa usdcad forex trading analysis daytrading priceaction breakout

There's confluence across two timeframes. The downside breakout on the hourly timeframe can also be observed on the daily timeframe as well. A key level is being breached as we speak. Downside to be expected as long as price holds below.

Commentaire:

Here's the daily chart:

snapshot

As long as price holds below 1.2838, we can expect downside momentum.

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