DislikedUSDCAD Alert! Looks like the MMs might have loaded up with shorts without breaking low thru the support area. And, with intent while doing so, to sucker in longs for the liquidity they needed to keep building short as they raised the price up thru the half number. Now they are bringing the price back down. We have stacking now whenever the price drops below the Dragon, but the US session tends to covet the same or higher highs for most current shorting as had the AS and LS MMs. So, price could go back up to/above the half number today. If that happens...Ignored
This is proceeding in bearish fashion. That was a huge liquidity play - MMs manipulating price to both sides of the half level - and presumably so they could get more short orders filled.