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Sunday, May 02, 2021

USDCAD Analysis May 2, 2021

USDCAD Analysis May 2, 2021

On the weekly timeframe we are clearly in a downtrend making lower highs and lower lows.

snapshot
On the daily timeframe is where we can see the trend pretty clearly. We are currently at a LL point and formed a dojo candle to close last week which could mean a sign of reversal from here
snapshot
On the h1 timeframe we have two options here. We will either respect the current trend that we are in or as structure begins to shift we will shoot up into our previous level of resistance which would be the perfect area to start to short from
snapshot


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