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Forex48_TradingAcademy
May 24, 2023 2:08 PM

USDCAD Waiting the convalidation! 

USD/CADOANDA

Description

On USDCAD, we have a critical setup, which means that the price is at a point of demand and supply at the same time. By analyzing the chart, I can infer that the price could drop to 1.3530, creating a short setup, and then bounce back to the supply level before descending further with a target at 1.34. Alternatively, the price could retrace directly to 1.3540, creating a long setup with a target at 1.3590. Both of these views are supported by spike validations on the order blocks.

Let me know what you think.

Happy trading to everyone.
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