USDCAD - Short Opportunity

The price broke the uptrend line and dropped below the cloud. It confirmed the uptrend reversal and from that moment the market became bearish. After a short term upward movement, the price bounced from a new resistance zone formed by the trend line and Senkou B. It was the 1st signal for opening short trades. Now we have 2 lows which can be used for drawing a new uptrend line. It will act as a signal line and if the price breaks it, we will get a new sell signal.

Stop orders should be placed above the previous swing high at 1.33500 level. Profit targets can be placed at the support levels.
CADForexTechnical IndicatorsSupport and ResistancetradingsignalsTrend AnalysisUSDUSDCAD

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