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USDCAD: Multi Time Frame Analysis & Trading Plan

USDCAD is currently trading in a strong bearish trend .
during the last few days, we saw a nice pullback though.

friday's candle closed on a resistance line of a falling channel .
matching with fib.levels of the last legs and a horizontal structure on the left,
the price is now clearly trading within a strong structure resistance area.

to catch a bearish continuation I would suggest being focused on a bearish flag formation on 1H.
we need a 1H candle close below its support to initiate short.

target levels:
1.332
1.326

stop will be above the last flag's high.

in case of a bullish continuation above the underlined resistance cluster,
setup will be invalid.

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