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Technical Analysis – USDCAD _ 07-03-2019

HomeTechnical AnalysisTechnical Analysis – USDCAD _ 07-03-2019
07
Mar
Technical Analysis – USDCAD _ 07-03-2019

The pair rallied strongly on Tuesday and Wednesday, influenced by the upside-down pattern of the head and shoulders pattern shown on the 4-hour chart to achieve its first target at 1.3440, which is currently moving around it … This trend is likely to remain for the next targets around 1.3545 as the second target and resistance at 1.3655 as the second target. Buy on Stochastic and RSI may press the price to hold a bearish correction to gather enough momentum before heading to potential targets.

Breaching Support 1.3215 – 1.3225 The mentioned pattern may fail and it is possible to press the pair to test support at 1.3115 at least

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