Preferforex Analysis on USDCAD
USDCAD is currently in an uptrend based on both the daily and 4-hour views. The short-term break of the structure occurred at the 1.3745 level. Currently, the price is retracing downwards and heading towards a strong point of interest (POI)/demand zone. A further bullish movement is expected once the price touches and reacts from this demand zone.
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