USD/CAD - Break & Retest of Support Structure
Trade Suggestion:
- Price to continue its downtrend after bounce off trendline resistance level
- D1 Timeframe shows price trading within descending triangle and has show bearish bias from touching its resistance
- DXY Dollar Index beginning to show some weakness after bullish surge
- EMA Bearish cross of 10EMA & 50 EMA adds bearish confluence
- Broken support has held price before, showing rejection in the past
- Price has broken H4 support structure and has retested its level