FX.co ★ TST as the Foundation for Medium-term Trading

Hello traders, The price action at the lower channel boundary on USD/CAD worked out quite well on Friday. However, today, even though we opened at the lower boundary, it is not necessarily a sign of a decline. We shouldn't exclude that possibility. According to the bearish scenario, the price could potentially drop to 1.3990, where we have an unfulfilled mandatory zone level. This scenario will be relevant if we don't immediately head towards the mandatory zone around 1.4080. In short, a correction to the downside seems imminent, but how deep it might go remains unclear as always.