USD/CAD H4: Short trend and short-term correction
Fibo correction to 23.6% of the last short – levels of resistance.
Lower than the previous tops and deeper than the previous bottoms.
The movement is in price channel .
Price below horizontal resistance.
Indicators :
CCI(50) above 0 , if go under 0 gives us signal for entering with sell .
RSI(14) on the border of 50 , crossing in direction south is confirming for the short.
Price below 200 SMA
Price above 50 SMA
SL: 1.325
Alternative scenario :
Piercing of diagonal resistance , may make the price to test 200 SMA and 23.6% FiBo again .
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