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U.S. Dollar / Canadian Dollar
Short

USDCAD Analysis

By infinitewealthinvestments
  • Monthly candle closed as a hammer above the monthly support - 1.1245
  • Possible 'ABC' setup on the lower timeframes with confluences of the monthly resistance plus rejection of the 78.2% level. Next possible target is - 1.1900 provided that price breaks counter trendline and we see the MAs crossing over on the H4 time frame followed by Lower highs and Higher lows.
  • Will be monitoring this pair closely; awaiting lower high formation.
Trend Analysis
infinitewealthinvestments

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