USDCAD can be performed as a weekly correction process. If so, there are 2 weekly supply zones, and bearish can occur around them. Currently, it is the initial pattern of the 4-hour rising wave, and if this line is maintained and rises, there is a high probability of a weekly correction.
Otherwise, it will be a daily correction and the low will be tested again.
Otherwise, it will be a daily correction and the low will be tested again.
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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.