I stated in my the deal that as far as prices are above 1.28, we will see rebound.. so today prices broke below 1.29 and tested old support of 1.28 and 1.2835.. by going 1.2858 which resulted in strong rebound.
As far as usdcad close daily above 1.28, I see another rebound towards 1.40. Daily close below 1.28 will start new downtrend for 1.20 and below.
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Break of 1.302 would be bullish.
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ucad broked above 1.302 resistance and now coiling above 1.30 getting support from 1.30. Oil is getting hammered so far and we have NFP later.
I am already long from 1.2934 and will look for price action and nfp as I think due to falling oil.. ucad will remain supported and buy on dip will be good.
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Nice reversal.. buy on dips.. this bird will fly very high.. oil getting hammered.
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USDCAD now has base at 1.30 and near term targets are 1.321 and 1.33.
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usdcad taken out 1.3145.. and hovering close to 1.32.. Break of 1.321 will lead for 1.329 and 1.23 in coming sessions.
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and 1.34 in coming sessions.
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If anyone missed this train.. then good buying area 1.308 and 1.305 with stops under 1.30 and target towards 1.32 and high.