Dollar vs Canadian Dollar Forecast

The market is in the Extension Pattern (Descending Channel) that indicates a temporary to the upside. But in the Bigger Picture the price is to the downside bias. Let's go back to the main agenda here now. Recently the price break the flag pattern indicates that the price will go to the upside to the Red Zone. In the Red Zone we are looking for 2 setups:

Setup #1: If there is a rising wedge, mini ascending channel or anything reversal pattern we can enter for a SELL Position specifically to the 3rd or 2nd touch, if you are a conservative trader enter on the breakout & SL above the recent high.

Setup #2: If the price tends to fake breakout we are looking for a Retrace and a Hover or like a Bear Flag pattern to enter a SELL position on the 3rd touch or in the breakout.

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