SIMPLE USDCAD ANALYSIS, 40 PIPS SHORT MOVE.
This is the 4 hour time frame.
Analysis was done in the Daily time frame, and it confirms a good scalping opportunity in the 4 H, 1 H, time frames
In the daily time frame, the immediate trend is a downtrend, and a retracement had occurred and has now reached a strong zone, confirmed by the Fibonacci retracement tool at point 61.8.
Due to the confirmation of the immediate trend, price will move from the zone 1 to zone 2 .
Signal: If price closes below the zone, that would be signal to sell.
Analysis was done in the Daily time frame, and it confirms a good scalping opportunity in the 4 H, 1 H, time frames
In the daily time frame, the immediate trend is a downtrend, and a retracement had occurred and has now reached a strong zone, confirmed by the Fibonacci retracement tool at point 61.8.
Due to the confirmation of the immediate trend, price will move from the zone 1 to zone 2 .
Signal: If price closes below the zone, that would be signal to sell.