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USDCAD 21 Mar 2024

USDCAD 21 Mar 2024, In the analysis of USDCAD on the weekly timeframe, with the current price around 1.34640, it should be noted that the pair has experienced a trend change from uptrend to downtrend. The pair is currently inside the Kumo Cloud following the trend reversal. In addition, the chart of the Stochastic Indicator is also showing a downward movement, which indicates negative price momentum and supports a potential continuation of the downtrend. Although USDCAD was previously in a strong uptrend, there are signs that the trend has turned into a downtrend. Traders should closely monitor whether USDCAD will continue to move down or may experience further consolidation around this area. Attention should also be paid to signals from other technical indicators to confirm the direction of potential price movements.

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