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USDCAD 31.10.2024
General Trend:
The general trend is strongly bullish, with the price trading near a significant resistance level at 1.3931 after a clear upward wave, supporting the possibility of continued bullish momentum.
Expected Scenario:
If the resistance level at 1.3931 is breached, the upward movement could extend to the next level at 1.3985.
Alternative Scenario:
If the price fails to break the current resistance at 1.3931, a downward reversal toward the support level at 1.3683 may occur. If this level is breached, we could see further decline toward 1.3474.
Key Levels:
Resistance: 1.3931 - 1.3985
Support: 1.3683 - 1.3474
Disclosure of risk: Point Trader Group will not accept liability for any loss or damage as a result of reliance on the provided information.
