USD/CAD Dropping As Bearish Pressure Gets Stronger

The USD/CAD looks bearish. Bearish candlesticks show stronger bodies than bullish and we can also see a sort of H&S pattern on the h1 timeframe.


There are 2 scenarios. If the market makes a retracement to the POC zone 1.2711-23, we should see new and fresh selling pressure. Continuation of selling pressure happens at the trend line and camarilla pivot break below 1.2637. Targets are 1.2617 followed by 1.2600 and 1.2583. So far, selling on rallies could be the best option for intraday traders.


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