FX.co ★ USD/CAD

A bearish movement is shown on the H1 chart of the currency pair USDCAD, confirmed by the trend indicator Moving Average. The price itself is below the indicator, indicating a downward movement. The descending structure is supported by the Zig Zag indicator, as significant lows are decreasing. The continuation of the downward movement is indicated by the hourly candle closing at the level of 1.3760. It is preferable to consider selling rather than buying. I think it's reasonable to consider two sell orders from the level of 1.3770, with the first target at 1.3730 and the second target at 1.3690, setting the stop loss at 1.3800. Buying the pair can be considered once there is a breakout and the pair consolidates above the price level of 1.3830. For buying positions, set the take profit at 1.3870, and losses should be cut around 1.3800.

The fifteen-minute chart is best suited for a precise entry into sales.