USDCAD Possible reversal or Further Downside
Price has hit S3 - which means if it breaks above trendline then there are good chances of reversal and upside.
Although the price has hit S3, it has also broken below the support line - which means further downside is imminent if the price doesn't break above the trend line.
Supply and demand for oil driven by Coronavirus pandemic is the major deciding factor here.
A trend indeed is a friend indeed?
Although the price has hit S3, it has also broken below the support line - which means further downside is imminent if the price doesn't break above the trend line.
Supply and demand for oil driven by Coronavirus pandemic is the major deciding factor here.
A trend indeed is a friend indeed?
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.