USD/CAD Shorting Opportunity

2020-02-02 01:11:52

Bulls need to close above 1.32500-1.32700 for next upmove. Long Wick candle forms on Daily chart showing Bears activated in this zone.Do you see Ascending Diagonal on the 4H chart? This pattern is alert for Buyers because momentum is slowly decreasing as it is going upward. We can see an inverted hammer or Pin bar candle forms on the chart. Now we look for the Possible entry on this pair. Let's jump to the 1 Hour Chart.The hourly chart still not confirms for entry. We will wait for Trendline break and Rejecting 50EMA and Pivot. Odds will be removed from the trend is important.
Possible selling level is below 1.32060 with Money management.