USD/CAD)) Bearish Trand analysis Read The caption

SMC trading point update



Technical analysis of USD/CAD on the 3-hour timeframe, using Smart Money Concepts (SMC) and classic technical analysis. Here's a breakdown


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Key Technical Insights:

Overall Trend:

The pair is in a clear downtrend, confirmed by:

Lower highs and lower lows

Price trading below the 200 EMA (currently at 1.37402)

Respect for the downtrend channel




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Resistance Zones:

1. Upper Resistance Zone (~1.38400 – 1.38750):

Strong historical sell area (price sharply reversed here in late May)



2. Mid Resistance Zone (~1.36450 – 1.36750):

Price reacted twice here and dropped.

Aligns with the downtrend line and was recently tested again (red arrow).





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Bearish Projections:

After the latest pullback into the resistance zone, price is expected to:

Reject the zone

Continue following the descending structure


Target marked around 1.35034, which coincides with:

Previous low

Lower boundary of the descending channel





Mr SMC Trading point
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Chart Tools & Features Used:

Trendlines: Clearly marking the downtrend channel

200 EMA: Used as dynamic resistance

Fib-like measured move: Mirrored previous impulse moves (-1.61%) suggesting a symmetric drop

Arrows: Indicating reaction points from resistance



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Conclusion:

Bias: Bearish

Invalidation: Break and hold above 1.36500 would weaken the bearish outlook.

Next Move: Potential sell setups on lower timeframe retests or bearish confirmations within the resistance zone.



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