Here is a mix of all Cad pairs with the Major currencies.
We can see multiple touches and a fake-out on the structure zone at the 618 retracement level.
The 618 from the most recent leg has shown signs of reversals signalling a possible first target.
Next level if that breaks would be the 100% retracement and then the -0.272 level where price has hit structure also multiple times.
News out of Canada is the Cuts scheduled in Oil Outputs to drive up price and reduce supply. This should have a positive effect on the Loonie as it is 1 of the major exports coming out of the Country.
We can see multiple touches and a fake-out on the structure zone at the 618 retracement level.
The 618 from the most recent leg has shown signs of reversals signalling a possible first target.
Next level if that breaks would be the 100% retracement and then the -0.272 level where price has hit structure also multiple times.
News out of Canada is the Cuts scheduled in Oil Outputs to drive up price and reduce supply. This should have a positive effect on the Loonie as it is 1 of the major exports coming out of the Country.