Because it broke supports and the rhetoric is bearish (see dailyfx), it may continue going down to $66 and lower.
I will continue shorting it.
Disclaimer: I'm a beginner, it's just an idea.
Looks like it has a support at 107.10 - 107.20. Expecting rebounce and bullish trend within channel, maybe up to 107.9.
Disclaimer: I'm a beginner, it's just an idea.
Currently, the USDCAD seems to be on a bearish channel, maybe there is a chance for a rebounce (blue arrow) around 125.4.
Otherwise, there is a strong support at 123.7 - 123.6.
I'm a beginner, it's just an idea. Trade safely with low leverage.
Maybe first bearish to 106.6, then bullish to 107.3.
I would start a long position between 106.7 and 106.6 up to 107.2.
Take care, I'm a beginner, it's just an idea.
