USDCAD has undergone a deep daily correcction.
However, since it is a daily demand zone, there is always a chance for a rebound.
It is currently riding a 15-minute mountain-climbing wave, and can be propagated as an 1 hour, 4 hour, or daily rising wave. Then, when it breaks above the red dotted line in the middle of the chart, it will reach the first weekly supply zone again, and even if a retracement occurs, it will reach the monthly supply zone if there is support above it.
However, since it is a daily demand zone, there is always a chance for a rebound.
It is currently riding a 15-minute mountain-climbing wave, and can be propagated as an 1 hour, 4 hour, or daily rising wave. Then, when it breaks above the red dotted line in the middle of the chart, it will reach the first weekly supply zone again, and even if a retracement occurs, it will reach the monthly supply zone if there is support above it.
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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.