Title
USDCAD H4 | Potential bearish breakout
Type
Bearish Breakout
Preference:
USDCAD could continue with the downtrend and breakout of the pivot at 1.32575, the pullback support, and fall to the 1st support level at 1.30971, the swing-low support
Alternative scenario:
Price could bounce at the pivot at 1.32575, and rise to the 1st resistance at 1.33716, the pullback resistance.
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.