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alicanuz
Sep 16, 2021 7:56 PM

USD/CAD Technical Analysis Long

U.S. Dollar/Canadian DollarFXCM

Description

Using the range between 1.26 support and 1.27 resistance, price has formed a triangle pattern and broken and retested the descending trendline. Coming off of the 0.618 level of the fibo, I expect this pair to ride to the previous high and major resistance which is the 1.29 area again. I have put my sl beneath the 0.618 level but I do not believe it will break the previous low of 1.2610 before going to the target area.

Trade closed manually

Price almost hit my TP closed manually on 1.2888
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