USDCAD short following break of support

8 июл. 2018 г.

Top down analysis. Previous Weekly Candle Bearish Engulfer with continuation short this week. Rejected off top trend line of the daily bear flag pattern and price locked itself into 4 hour descending triangle and broke the support. 1hr chart shows clear retest and reject of that support showing price may well indeed target 1.3 quarter and continue down to 1.275 quarter which would coincide with bottom trend line of the bear flag.