CAD had been relatively weak over the last week, however price had reach a strong daily resistance level on both USDCAD and EURCAD. I’d like to look for opportunity to go short on these pairs.


Price had been respecting and strongly reacting to this level in the past. I'd drop into smaller TF and look for signs of reversal to go short.


On the 4hr chart, price appeared to be trapped in a rising flag. I'd wait for it to break below and a retest, then I'd sell this pair with the profit target as shown on the chart.


EURCAD have a similar price action where price approaches a strong level of resistance. The bulls seems to be very much in control with this pair for the past week, however I'd still be looking for signs of exhaustion to go short


EURCAD 4hr still looks very much bullish with HH and HL. I'd wait for "Old man easing into hot tub" formation before jumping the gun on this one.

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