USD is still trending downward, expected to deepen further as more QE will be taken in place.
Long - term Trend: downtrend
Trade setup -
RR: 1:4
Expected CAD to retrace back to supply zone level and retest,
The short-term bottom was established based on the below reasoning.
The long-term uptrend line from 2017 acted as support.
Short-term profit target :
target: 61% fib level meets Supply zone
Long - term Trend: downtrend
Trade setup -
RR: 1:4
Expected CAD to retrace back to supply zone level and retest,
The short-term bottom was established based on the below reasoning.
The long-term uptrend line from 2017 acted as support.
Short-term profit target :
target: 61% fib level meets 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.