USDCAD Analysis (8th April 2024)

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Market Analysis PT2/2 (8th April 2024)

USDCAD Analysis

On the daily timeframe, Price action has rejected of a resistance of the Daily William Certified Range(WCR). This can be seen clearer on the 1 hour timeframe.

On the 1 hour Timeframe, we have created a Sharp rejection off the Daily support, which created a bearish 1 hour Fair Value Gap in the process.

Should price continue to Respect this WCR, i would look for price to reject off this 1 hour Fair Value Gap before creating a 5/15 minute Change of Character before looking for shorts.