to begin with, USD/cad has been progressively bullish, currently, price is still stretching and holding around the liquidity range of 1.33500, this region is in confluence with the 78.6% retracement region. We had candle rejection around the daily ress with a spinning top, now price is evidently showcasing downside movement. 1st target is 1.32250 then we if the trendline is broken, the price could drop further to 1.3100.
fundamentally, cad GDP data out later towards the end of the week, could, therefore, be the additional catalyst for the price to fall lower.
the risk-reward ratio is 1:3
fundamentally, cad GDP data out later towards the end of the week, could, therefore, be the additional catalyst for the price to fall lower.
the risk-reward ratio is 1:3
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