We have a downtrend in all time frames and price is below the weekly pivot
and also below the EMAs with three different periods (20, 50 & 100). I just hide the EMAs because I didn’t want to make the chart untidy! Price is testing the first support level
shows a regular positive divergence which means there would be a upside push. I expect a rejection from this level and a bounce to the up to the supply zone
(purple triangle). Then, IF there was any rejection by the supply zone
in the lower time frames, we can expect the price to fall again and break the S1 which can be the first target and then falls more to the S2 as our second target. What do you think about USDCAD?