USDCAD - Potential Short from Key Resistance Zone

17 Jan

The USDCAD pair is testing a significant supply zone, a level that has consistently acted as resistance in the past. The strong upward momentum approaching this area may lead to a reversal as sellers look to regain control.

A bearish confirmation, such as rejection candles (e.g., shooting stars), bearish engulfing patterns, or long upper wicks, would strengthen the case for a short position. If this setup plays out, the price could head toward the 1.43928 level.

Traders should monitor price action closely for signs of selling pressure before entering short positions.

17 Jan

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17 Jan

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17 Jan

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Beautiful delivery :P