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Zedro
Sep 5, 2018 3:36 AM

Continuation higher on USDCAD? Long

U.S. Dollar/Canadian DollarFXCM

Description

With a break above a trenline, I'm biased on a continuation upward. Cheaper oil, NAFTA uncertainty, and tariff disputes are driving this push up. I have a small long position open, but am expecting a retrace to the 1.305 -1.31 level which is the location of the trendline, 30EMA (green line), and 200MA (blue line). Ultimately, my target is 1.329.

NFP may throw a wrench in the gears, but it will certainly expedite price toward my re-buy zone or my target, so I'm looking forward to it.

Thanks for looking.

-Zedro
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