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U.S. Dollar / Canadian Dollar

USDCAD Medium term Trendline break

By TradingTechs
Updated
USDCAD managed to break the medium term trendline that acted as a springboard from October. As long as we get a close below the trendline we target previous swing lows at the 1.3379 area and then support at 1.3300-1.3266 area. Please have a look at the related idea for a longer term possible outlook. A close above the downward sloping trendline means trouble for shorts
Note
Inside day formed yesterday. A break below yesterday's low or above yesterday's high should see some follow through for a day trade. Longer term levels are the trend line above and swing lows coming in at 1.3266
Note
Broke Inside Day lows
snapshot
Note
USDCAD coming into area of support. Should be stops below 1.3265 (previous swing low)
snapshot
Trade closed: target reached
Pre-NFP target hit
Note
PA slowed down right inside the area of support. A clean break lower should target the lower bound of the channel
snapshot
Note
USDCAD tagged lower bound of the channel as discussed and bounced into previous support area(now resistance area) snapshot
loonieUSDCAD
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