1οΈβ£ Trend line bounce, Break and retest around 1.31500 2οΈβ£ 1.32500 Price action level-Dynamic support 3οΈβ£ Risk off mode and Rising of virus infections, Falling of Oil- WTIUSD prices 4οΈβ£ 1.34000 Key psychological resistance 5οΈβ£ Price Movement within the broader upward channel 6οΈβ£ Parabolic move was expected from 1.31000 to 1.35000 7οΈβ£ Technical support - Bear 8οΈβ£ Minor Bullish Trend 9οΈβ£ September high Immediate resistance π Strong DXY- Upward pressure- Negative for CAD #οΈβ£ Overall bearish trend
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π Technical bias-H4-Bullish
Above200 Exponential moving average 200EMA acting as immediate support - Bullish trend Possible entry point-1.32600 Relative strength index - 50> Above neutral area. RSI trend line support MACD -Felled below the middle line, Red zone territory, Oscillators pointing downward Stochastic -Around neutral area -Short term bullish trend Ichimoku cloud -cloud is turned green-Cloud Support Bollinger band- Price is around higher band-Middle band acting as dynamic support
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Key reversal area's 1.34000 Key psychological level 1.34160 September month high 1.32510 Dynamic support and resistance 1.36000 Key psychological level-Major key reversal area 1.31200Lower trend line reversal area 1.132510 Possible entry- Bullish
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Bullish entry #USDCAD
Entry price - 1.32520
Take profit 01 - 1.33500 (100 pips) Take profit 02 - 1.34150 (165 pips) Take profit 03 - 1.35150 (260 pips)