Given that a breakout had occurred through the bottom border of a dominant descending channel, the US Dollar could target a support level formed by the weekly support at 1.2488.
On the other hand, bulls might try to introduce a slight upside potential within this session. Nevertheless, technical indicators demonstrate that the aforementioned downside target could be fulfilled during the next 24 hours.
Chart: USD/CAD H4
It will likely continue falling.
ReplyDeleteI'll keep your assessment in mind.
ReplyDeleteIt could be a good turning point.
ReplyDeleteVery useful information! Thanks.
ReplyDeleteGreat analysis as usual.
ReplyDeleteGreat post! I fully agree with your view.
ReplyDeleteVery helpful and insightful analysis, excellent.
ReplyDeleteVery good analysis.
ReplyDelete