Greetings Forexia Family, lets breakdown the analysis on USDCAD.
From what i can see of the 4HR chart that the pair has formed the uptrend. And broke that trendline down as well as forming the fake support. Now acting as resistance.
In this case, i can see that the pair has trapped sellers (thats my opinion only).
I was in this trade from yesterday. So far its playing out. Today’s resistance respecting is dead giveaway for me. Thus, i am going to keep this trade going.
PLEASE USE THIS ANALYSIS AS A GUIDE TOOL FOR YOUR TRADING AND USE PROPER MONEY MANAGEMENT IN YOUR TRADING