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USDCAD analysis 30.01.2020

30.01.2020

Market Review

The 1.3210 support level is holding back buyers. An ascending truncated pattern was formed. A bearish divergence has formed on Awesome Oscillator indicator, and Stochastic Oscillator signals overboughtness.

Trading recommendations:

Buy while a descending pattern is forming, where the wave (A) breaks through the inclined channel of the ascending truncated pattern.

Stop loss for the local maximum: 1.3210.

Target levels: 1.3154; 1.3124.

Author: admin
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