USDCAD: Bulls Out Of Steam At Action Level, Downside? #Forex

Traders,

Compelling bearish engulfing signal at the top of the range at the sideways resistance line shows investors clearly
acknowledged this level as a place for potential downside opportunity. It appears the bulls have been swiped and a new downside agenda is clear. Expecting to see strong lows from this move, with a logical target being the sideways support level, bottom of structure.

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