做空

USDCAD top of Channel Up rejection. Strong sell.

The USDCAD pair has been trading within a long-term Channel Up pattern since the July 14 2023 Low and on Monday it hit its top (Higher Highs trend-line) and got rejected. This is a similar peak to November 01 2023, with the 1D RSI turning downwards as well on an early sell signal.

Initially, we expect at least the 1D MA200 (orange trend-line) to be tested, so our Target is 1.37300.

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