USD/CAD) Bearish trand analysis Read The caption

6月5日

SMC trading point update




Technical analysis of USD/CAD on the 3-hour timeframe reflects a bearish market outlook. Here’s a breakdown of the idea:


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Trend Overview:

The pair is in a clear downtrend, confirmed by:

Lower highs and lower lows

Price trading below the 200 EMA

A bearish flag pattern in play




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Key Zones & Levels:

1. Resistance Zones (Yellow boxes):

Upper zone (~1.3835 area): Previously tested and rejected (marked by the red arrow).

Mid-zone (~1.3745 area): Labeled as a resistance level, previously support turned resistance.



2. Support Zone:

The price is heading toward a projected target point at ~1.35584, which aligns with previous support.





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Bearish Confirmation:

The price attempted a retracement but failed to break above the resistance level.

The structure shows a bearish continuation pattern, suggesting a move downward is likely.



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Indicators:

RSI (Relative Strength Index):

Currently near 37, not oversold yet, but suggests bearish momentum is still strong.

Also shows slight bearish divergence (lower highs on RSI while price was consolidating).




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Projection/Trade Idea:

Scenario: Break and retest of the current level (~1.3679), with a continuation to the target at 1.35584.

Risk Areas: Any break above 1.3745 could invalidate the setup.

Confirmation: A clean bearish candle below the minor support could confirm entry for short sellers.





Mr SMC Trading point


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Summary:

This is a supply-and-demand + structure-based bearish setup. The market is showing weakness below resistance, and the next logical target is 1.35584, barring any macroeconomic reversal (e.g., USD or CAD news).



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前天

交易結束：目標達成

done for target point