InvestMate|USD/CAD Last rise before the fall.🍁

🍁USD/CAD Last rise before the fall.

🍁This time it was time for USD/CAD

🍁As you can see from the chart, this pair has already shown what direction it intends to take for the coming months and it is certainly hard to pin your hopes on further increases here.

🍁 The most sensible option would be to join the continuation of the declines, but in the best possible place.

🍁The ideal place for this would be the resistance zone that I determined based on the 0.382 measurement of the entire downward wave and the 1:1 level of the largest upward correction.

🍁The zone has found solid support which has acted brilliantly as resistance in the past.

🍁 Admittedly, we are already halfway through the whole movement and it is possible that we may not test the area around the 1.332 level again.

🍁 The most important fact in the whole chart remains the resistance zone where I would see an interesting opportunity to take a short position.

🍁The scenario I am playing out is an attempt to attack the resistance zone and then a continuation of the downtrend.

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