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Technical Analysis
USDCAD: Moving with Momentum
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[QUOTE="sharabela, post: 212359, member: 39507"] USDCAD has been up trending in the H4 chart. The price has been obeying an up trending trendline. The price seems to have found its support at the trendline several times. It produced a Double Bottom and made a strong bullish move. Upon producing an ABC pattern, it moved towards the North again this week. The price has been having a bearish correction. If it finds its support and produces a bullish reversal candle closing above the last higher high, the buyers may push the price towards the North again. The pair may find its next resistance around 1.32250. For the sellers, they must wait for the price to make a bearish breakout at the trendline before making any selling decisions. As things stand with the pair in the H4 chart, it may take time to offer short entries to the seller.[ATTACH type="full"]22452[/ATTACH] [/QUOTE]
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