USDCAD OUTLOOK

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On the 12 months chart, price shows an impulsive bearish move that took 6 years to complete. In tandem with price action, the bullish correction that is currently active has taken 14 years. Price is yet to contact a fresh long-term supply sitting at 1.544.
On the monthly and weekly charts, the structure is still the same. Price is seeking to contact a short term fresh supply at 1.44.
Once this region is contacted, we are likely to see bearish order flow setting in

Penafian

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