USDCAD Analysis September 5, 2021

On the weekly timeframe we are heading downward as expected from last weeks analysis. We are going to be testing a level of support around the 1.245000 level. Last weeks candle closed bearish with a slight wick so I am anticipating a pullback here before going lower. On the h4 timeframe we can clearly see that th trend has continue bearish and we have halfway completed the original move. Now we will mwait for a pullback ideally even all the way back to 1.25800 level before shorting again.