USD/CAD-Daily overview

Hello everybody!

-On a daily chart, we can see that the price was moving towards the supply zone and then the price rejected.
-On lower time frames such as 4-hour and 1-hour time frames, we can clearly see that the price tested that zone multiple times and then rejected.
-I consider the supply zone as a very strong zone because in the past we had plenty of rejections and that is very well visible on a daily chart.

-On a daily base USD and CAD are on a similar strength level(for now) and on a weekly base, USD is stronger than CAD.
-If USD remains stronger than CAD we can expect bullish movement and if CAD remains at a similar level as USD then we can expect some consolidation.

-WHAT DO YOU THINK ABOUT THIS SETUP?
Please let me know in the comment section!

THANKS FOR READING!

-If you have some different opinions please let me know and if you like this please hit that like button and give me support, I will appreciate every support.

-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not a Financial
advice.