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USDCAD is approaching resistance, potential drop!

Short
U.S. Dollar / Canadian Dollar (FX:USDCAD)  
Tickmill Broker  
FX:USDCAD   U.S. Dollar / Canadian Dollar
Trend Analysis Harmonic Patterns Chart Patterns USDCAD USD CAD usdcadlong usdcadshort Forex forextrading forexsignals
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trendanalysis harmonicpatterns chartpattern usdcad usd cad usdcadlong usdcadshort forex forextrading forexsignals
USDCAD is approaching our first resistance at 1.2977 (horizontal overlap resistance, 100% Fibonacci extension, 50% Fibonacci retracement) and a strong drop might occur below this level pushing price down to our major support at 1.2912 (horizontal swing low support).
Stochastic (55,5,3) is also approaching major resistance and a reaction off this level might see a corresponding drop in price.
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This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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