Last week, USD/CAD broke through the support which has been holding for almost two (!) years. After the support was broken, the price dropped around 1.3% in two days. This hard drop suggests that the price will continue to drop further in the coming weeks.
I consider Support 1 and Support 2 as areas with a high chance of reversal / exhaustion. Feel free to select your own profit targets.
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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.