Technical analysis for ( USDCAD ) 23 Dec 2023
Trend: Down
Expected Scenario: The technical analysis suggests that prices may reverse from current levels, based on the following reasons:
1- The price has reached the trendline.
2- The price has entered the support zone (from 1.3264 to 1.31000).
What if prices don't reverse and continue moving down below the support green zone?
That would mean the expected scenario has failed, as prices have broken both the upper trendline and the support zone.
Expected Scenario: The technical analysis suggests that prices may reverse from current levels, based on the following reasons:
1- The price has reached the trendline.
2- The price has entered the support zone (from 1.3264 to 1.31000).
What if prices don't reverse and continue moving down below the support green zone?
That would mean the expected scenario has failed, as prices have broken both the upper trendline and the support zone.
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