USDCAD tapped into a clear liquidity zone and showed signs of weakness at the top. Price is now hovering near a potential break of structure, and a fair value gap has formed just above.
If we get that break, the idea is to wait for price to retrace into the FVG, then look for a clean continuation to the downside.
There’s also a bearish trendline holding well, adding pressure to the move. On top of that, a head and shoulders pattern is forming, another clue that momentum could be shifting lower.
No need to rush. Let the break happen. Let price return. Then act.
If we get that break, the idea is to wait for price to retrace into the FVG, then look for a clean continuation to the downside.
There’s also a bearish trendline holding well, adding pressure to the move. On top of that, a head and shoulders pattern is forming, another clue that momentum could be shifting lower.
No need to rush. Let the break happen. Let price return. Then act.
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