Hello Price Action Traders.
The USD/CAD continues to fall towards 1.0810 for a probable retest. A breakdown below this level could resume the bearish trend from March highs. Checking the weekly timeframe, we can identify a price action signal of continuation: the Inside Candle. A week of choppy market is a signal of congestion, so the probability of a resumption of the downtrend is quite high. Shorts are preferred in this scenario.
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Luigi, professional trader member of Hereforex.com