USDCAD might reverse very soon

2020-02-09 23:02:37

USDCAD is facing stiff resistance at the 1.3300-1.3340 area which is expected.
At this point, both the sellers and buyers are on the sidelines waiting for a move to happen.

In my opinion, price will reverse very soon. However, there might be a fake breakout of the resistance level to generate some liquidity before dropping.

I have already executed sell orders and I will look to add some more if I see rejection or a fake breakout at the resistance