USDCAD is positioned to form a 4-hour bullish pattern.
When the 4-hour uptrend begins, the target is around the daily supply zone, where the overall pattern will change depending on market action.
When the 4-hour uptrend begins, the target is around the daily supply zone, where the overall pattern will change depending on market action.
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The goal has been reached. Since DXY is now rising, it can continue rising until DXY reaches the daily supply zone. If so, USDCAD can go to the weekly correction process rather than daily correction. I uploaded the DXY chart together, so please refer to it.Trade active
When GBPUSD reaches the daily demand zone, the dollar will come down by the correction process. Therefore, USDCAD will also come down, and if it does not break the low point, it is expected that there will be a weekly correction process to reach the weekly supply zone.
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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.