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USDCAD Bullish trend continuing
Alan Collins from 3cAnalysis is looking at USDCAD and the growing scope for recent gains to extend.
January’s strong upside remains the backdrop and although the last four weeks have seen the upside stall, profit taking has been limited. Buying interest at the key thirteen day moving average in the last two weeks, coupled with bullish strength indicators, has confirmed the positive tone.
Alan Collins says he needs to see last week's high exceeded to accelerate momentum, but unless 1.1013 is broken on the downside, then the focus remains firstly 1.1147, 1.1194, February’s high, then a very important 50% correction level at 1.1236.
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00:59 minutes
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