We have been following the USDCAD within the trend channel that began in May. based on price action we expect that price will break below the mid line of the channel at 1.30600 level and continue in the down trend. A bearish head and shoulder pattern was observed to support the down trend. we will be following the news events for the week especially for the CAD on Wednesday. Crude prices may also give direction for this pair as crude remains at a major support level at the 64.71 level
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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.