USDCAD OUTLOOK
Outlook 1:
Expecting price falls to the 0.6 fib level around the psychological level of 1.36000. We can also see that that this area has been heavily tested this year. That being said, Lower timeframe confirmation will be necessary as price could easily continue bearishly.
Outlook 2:
For price to challenge the 0.7 fib level around the psychological level of 1.35600. We can also see a 4hr bearish candle before the bullish impulsive move, therefore an order block would be adequate.
Expecting price falls to the 0.6 fib level around the psychological level of 1.36000. We can also see that that this area has been heavily tested this year. That being said, Lower timeframe confirmation will be necessary as price could easily continue bearishly.
Outlook 2:
For price to challenge the 0.7 fib level around the psychological level of 1.35600. We can also see a 4hr bearish candle before the bullish impulsive move, therefore an order block would be adequate.
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