After a long downwards movement, continuing from last analysis, USDCAD have been moving up sharply(observe the gradient of the drop/rise), it does resemble a V shape. It have been resisted around the 200MA last week with news adding pressure on the bulls.
There will be an trendline support which coincides with the other price support levels, watch that closely!
There will be an trendline support which coincides with the other price support levels, watch that closely!
Note
Approaching Resistance of Range BoxNote
Range Breakout, Strong Resistance got taken out like its non-existent.
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To give is to receive...
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.