USDCAD has started a third wave of downtrend after retesting a support turned resistance zone and is currently retesting previous low of the second wave of downtrend.
Should price be able to break below this level of support, there would be more downside available for USDCAD.
This week, await a breakout, then continue selling USDCAD when it pulls back. Conversely, if price gets supported at this level, we could look to sell USDCAD again if it retests the same supply zone.
Should price be able to break below this level of support, there would be more downside available for USDCAD.
This week, await a breakout, then continue selling USDCAD when it pulls back. Conversely, if price gets supported at this level, we could look to sell USDCAD again if it retests the same supply zone.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.