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10.09.2020 12:53 PM
USDCAD bounced from ascending trendline support, potential for a further rise!

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Price holding above ascending trendline support and moving average. A further push up above 1st support at 1.31260 towards 1st resistance at 1.32393 is expected.

Trading Recommendation

Entry: 1.31260

Reason for Entry:

Ascending trendline support, 61.8% Fibonacci retracement

Take Profit: 1.32393

Reason for Take Profit:

Horizontal swing high

Stop Loss: 1.30864

Reason for Stop Loss:

76.4% Fibonacci retracement

Dean Leo,
Analytical expert of InstaForex
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