USD/CAD on the verge of selloff

13 בנוב׳ 2021

This week saw a rally in USD/CAD, fueled by higher than expected CPI readings. Price rallied to a bearish Daily order block before breaking structure to the downside on the one hour timeframe. My expectation is that the pair will continue the bearish trend in the coming week. I would like to see price retrace to the hourly order block before continuing to the downside. Target will be the last major swing low.