stamoyo

USD/CAD Plausible price action

FX:USDCAD   U.S. Dollar / Canadian Dollar
The black support line is new but I do not expect to see it live in near future. The black thin dashed line is often regarded as support and and divergence between the price and the RSI indicator are all subjected to take the price down. The expected scenario is a black-thin-dashed line touch and then a huge slump to the first support which is the other black, thin and dashed line. The further move will probably also be bearish, but it is early to say.
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.