USDCAD Long

USDCAD is going to be rejected from the Mother of all trendlines.
In the hypothetical scenario of the United States, the European Union, and China entering a massive recession in 2024, the global economic landscape would witness unprecedented challenges. With China in a state of economic coma, a significant powerhouse would be immobilized, disrupting global supply chains and triggering a ripple effect across various industries. The European Union's active de-industrialization further compounds the economic strain, potentially leading to heightened unemployment and reduced economic output. In such a world, the demand for commodities, particularly oil, would face a substantial decline, as weakened economic activities and industrial downsizing diminish the need for energy resources. This bleak economic environment could pose significant hurdles for oil-dependent economies and reshape the dynamics of global trade and financial markets. Adaptation and innovative strategies would be imperative for nations and traders alike to navigate the complexities of a recessionary landscape on such a scale.