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Atirox.com - Daily Analysis
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[QUOTE="andy.atx, post: 182725, member: 58758"] [SIZE=7][B]USD/CAD: TECHNICAL ANALYSIS 30.06.20[/B][/SIZE] [URL='https://atirox.com/wp-content/uploads/USDCADH430062020.png'][IMG]https://atirox.com/wp-content/uploads/USDCADH430062020.png[/IMG][/URL] [B]Current trend[/B] USD/CAD is in the stage of consolidation in the side channel 1.36511-1.36705 after significant growth over the last week. The lower border of this channel coincides with the middle line of Bollinger Bands. The breakdown of this level and pair’s sustained trading below the 1.36414 will be a signal of the downward trend resumption and let the price decline to the area of 1.36108 level. [B]Alternative scenario[/B] If the instrument cannot consolidate below the level of 1.36511 during the short-term period, the price can reverse and retest the resistance level of 1.36719. The decisive break of this mark is needed to indicate the upward trend resumption. In this case, the next targets of buyers will be the level of 1.37024. [B]Technical indicators[/B] Technical indicators reflect the maintenance of the downward potential. Bollinger Bands are diverging on the background of bearish momentum. MACD volumes are decreasing in the positive zone. Stochastic’s lines are pointed downwards and are reaching the oversold area. [B]Support and resistance[/B] Support levels: 1.36414, 1.36108, 1.35803. Resistance levels: 1.36719, 1.37024, 1.37329. [B]Trading recommendations[/B] Short positions can be opened below the level of 1.36414 with the target at around 1.36108 and stop-loss at 1.36510. Long positions can be opened above the level of 1.36719 with the target at around 1.37024 and stop-loss at 1.36615. [/QUOTE]
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