USDCAD is forming a 4-hour bullish pattern. If successful, it can easily ascend to near the daily supply zone.
If it is strongly pushed near the daily supply zone, the daily downward wave may continue, and conversely,
if it breaks through the above resistance and rises, a weekly correction reaching the weekly supply zone may occur.
Therefore, market action in the daily supply zone will change the pattern.
If it is strongly pushed near the daily supply zone, the daily downward wave may continue, and conversely,
if it breaks through the above resistance and rises, a weekly correction reaching the weekly supply zone may occur.
Therefore, market action in the daily supply zone will change the pattern.
Trade closed: stop reached
The pattern has changed a bit, so we'll analyze it again.
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.
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.