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Navigation FX - Technical Analysis
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[QUOTE="Navigation FX, post: 117691, member: 39595"] [SIZE=6][B]USD/CAD – Technical Analysis strong 50.0 fibo resistance and upward trendline[/B][/SIZE] Canada has been under significant pressure with its economy with today’s disappointing GDP data including a contraction in manufacturing. We firstly drew a trend-line on this daily chart and drew a fibo from its swing high of 1.4693 to the swing low of 1.2460. Firstly we saw that there is a good 50.0 resistance ranging form 1.3575-1.3585 with this being tested on the 14th April. We may see USDCAD set to increase if this resistance is broken up to the 61.8 fibo level 1.3839. RSI is also showing a bullish trend at 63. If this resistance is broken, we well may see an increase of up to 300 pips! Yes. I said 300...For more: [URL]http://www.navigationfx.com/usdcad-technical-analysis-3/[/URL] [IMG]http://www.navigationfx.com/wp-content/uploads/2016/12/USDCAD-1024x546.png[/IMG] [/QUOTE]
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