USDCAD to find short/medium term momentum to the downside
We predicted that some choppiness for USDCAD this week. However it found conviction to the upside and broke farther up after a retest of the channel we drew for it. I think this pair is ready to break down even farther next week before finding a retrace.
BEAR CASE:
In the event where more value is to be found by price going down. We will see the 1.225 levels be liquidated before finding some equilibrium in the price action.
BEAR CASE:
In the event where more value is to be found by price going down. We will see the 1.225 levels be liquidated before finding some equilibrium in the price action.
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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.