USDCAD Short Scenario - #eToro

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If the price will move under the key support of 1.02996, the USDCAD will be bearish with target 1.02312 that is a key support. On the daily chart it is also in the EMA8-21 Support Area. We should wait to see price movements in the next days, the support area could be able to show us a possible price action signal to enter long or the break of the support.

The weekly chart shows the possibility that a false break can happen, just because the price is near the support level.