USDCAD double scenario brewing ..from personal view Inline with the dollar decline Short is more favoured but we must not forget USDCAD weekly and Daily is in a Uptrend channel with the Higher low formed at 1.27800 but because of the demise of the dollar we see rejection wicks inline with the previous downtrend within the channel which we can see now the wedge being formed on the 1hour -4 hour chart we need to see a breakout and retest either to the upside or downside to confirm the direction if it breaks downside(favoured) we could see a retest of the weekly and daily channel at 1.28850 if it breaks to the upside we will then continue to form the higher high of the channel at 1.35000 Goodluck to all target will be posted once the move begins
Note
Usd Cad broke the trendline indicating upward movemntNote
awaiting retest to go long
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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.