Usdcad downtrend
USDCAD
The price perfectly fulfills my last idea. The price has tested the resistance zone and bounced off by forming double top . The market creates an engulfing candle at the resistance zone that shows bullish momentum is weakening. The market is in range zone on the daily timeframe and I expect breakout of the channel and fall from the resistance if price rolls back to it. My goal is support 1.35200.
The price perfectly fulfills my last idea. The price has tested the resistance zone and bounced off by forming double top . The market creates an engulfing candle at the resistance zone that shows bullish momentum is weakening. The market is in range zone on the daily timeframe and I expect breakout of the channel and fall from the resistance if price rolls back to it. My goal is support 1.35200.
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