USD/CAD – Week 20 – Indecision territory.

Last week, the loonie lacked priced volatility, as the pair seems to be undecided for now. As you can see, we are at a critical point. Will the weekly support level hold & we will reverse? Or we will continue the bearish momentum?
It remains to be seen. If the market makes a strong bullish impulse, then we will need to wait for a correction, that could act as a confirmation for a potential reversal.
If not, the price could easily continue dropping.
Keep in mind that based on our methodology we are expecting a Daily correction, which means, that on the 4h timeframe the most probable move is bullish.
Our advice is to be cautious and avoid trading this pair for now, as nothing is clear.
Trade with care.

Best regards,
Financial Flagship

Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.


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