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Technical Analysis
Video | Market Technical | Solid ECN
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[QUOTE="SOLIDECN, post: 202986, member: 80239"] [HEADING=1][CENTER][B]USDCAD[/B][/CENTER][/HEADING] [CENTER]23.12.2021[/CENTER] [HR][/HR] [CENTER] [ATTACH type="full"]19710[/ATTACH][/CENTER] [JUSTIFY]Welcome to Solid ECN Market Analysis, today we will be looking at USD-CAD pair on the weekly and daily chart on our MetaTrader 5 platform. The pair is currently trading around the pivot of 0.918. The bull's pressure was capped by the ascending trendline, which is valid since April 2019. The ascending trendline showed strength five times already. The battle between bears and bulls from 0.875 has formed a triangle, and the market is being squeezed as this report is published. Minor Support levels are: 0.908 0.901 The main support levels are: 0.892 0.875 The downside movement started from 0.937 would probably ease at 0.908. With the hold of this level, the USD would have another leg extending to the upper side of the wedge at 0.93, and then we should wait for market behavior after hitting the ascending trendline for the sixth time. From a technical standpoint, the failure of the 0.9086 support, signals the resumption of the CAD powering against the USD. In this scenario, the bear's path to the checkpoints at 0.892 and 0.8757 will be paved. The market may influence by hedge funders, and there is a possibility of erratic movement. Please consider this risk before entering a trade on the new year's holiday. [/JUSTIFY] [CENTER][MEDIA=tumblr]solidecn.tumblr.com/post/671447065310674944[/MEDIA][/CENTER] [/QUOTE]
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