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A quick move expected on USD/CAD as it starts approaching a support line of a Channel Down

USD/CAD is heading towards the support line of a Channel Down and could reach this point within the next 14 hours. It has tested this line numerous times in the past, and this time could be no different from the past, ending in a rebound instead of a breakout. If the breakout doesn’t happen, we could see a retracement back down to current levels.

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After testing the support line numerous times, Lean Hogs OCTOBER 2019 is once again approaching this line. Can we expect a bearish trend to follow?

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US30 – approaching a support line that has been previously tested at least twice in the past

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