USDCAD is expected to rise once more through the weekly correction process and ride the weekly downtrend.
Therefore, if it succeeds in rebounding in the daily demand zone, there is a possibility of moving up to the weekly supply zone.
And, we expect it to continue declining toward the monthly demand zone through the end of the year.
Therefore, if it succeeds in rebounding in the daily demand zone, there is a possibility of moving up to the weekly supply zone.
And, we expect it to continue declining toward the monthly demand zone through the end of the year.
Trade active:
It seems to be starting now. Heading to the weekly supply zone...
Trade active:
When it reaches the weekly supply zone, it is likely to drop again. If USDCAD is a monthly correction, it needs to break the bottom once more. Let's wait and see what the market action is like.
Trade closed: target reached:
Since the weekly supply zone has been reached, a second downtrend may occur. However, keep an eye on the market action as you may be able to test the weekly supply zone again.
Trade active:
It looks like the second downtrend has begun.