On the H4 timeframe for USDCAD, the price has been consolidating within a descending channel, with recent closes testing lower support levels. The last few candles show a clear downtrend, marked by consecutive lower highs and higher lows, indicating weakening bullish momentum. The close below the psychological level of 1.41600 (previous high) and the increasing volume in the last three candles suggest stronger bearish conviction. The current price action appears to be forming a potential reversal pattern near the recent high, with the close at 1.41589 failing to sustain above 1.41600, signaling a shift in control to sellers. Volume spikes…

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