Where might USDCAD be heading in the following weeks?
If we can get a retrace up to the 1.2825 area, I'll be looking to sell down to the 1.2700 area based on selling pressure and confluence of the 4hr supply zone, 50 ema and descending trendline. If that area is broken to the upside, we may be looking at a potential short opportunity at the Daily supply zone above.
Trade closed: target reached
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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.