USDCAD Short
USDCAD The technical analysis of the current market conditions reveals a bullish channel coexisting within a bearish trend. This implies that the breakage of the channel's lower boundary would trigger a subsequent bearish trend. The current price point has reached the channel's apex, and there is a possibility that it may retreat to the lower boundary, even breaking it and further descending. It is, however, imperative to note that such a trade is inherently precarious. A small stop-loss and a large risk/reward ratio should be implemented to mitigate this risk. Therefore, it is vital to exercise utmost caution and carefully manage the associated risk.
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.