USD/CAD Reached our Bearish Target

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USD/CAD Reached our Bearish Target

11:30 AM (EST) Update

USD/CAD Reached target at 1.24

10:00 AM (EST) Update

USD/CAD 4 Hour: Bearish Sentiment breaking below the Ichimoku Cloud

Forex Fundamental news: Bank of Canada Rate Statement on Tap

Suggested positioning: Bearish below 1.2525

Technical reasons: The pair is under strong bearish sentiment and breaking below the Ichimoku cloud and support levels.

Alternative Scenario: Above 1.2580 look for more upside towards 1.2635
Where I’m setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.2416 12525 1.2635
1.24 1.2580 1.28