Chart of the Day USDCAD

USDCAD is testing the long-term upside support

USDCAD is about to test the 1.3050 level which is the ultimate long-term uptrend line support. If this level would be broken we could expect a downside continuation into 1.2800 with a minor resistance at 1.3000.  A bounce off this level is required for an upside reversal.

ARMAT trading system is neutral

Note: look for the long trade entries with the stop loss below 1.3050, if your trade is stopped reverse to short trade entry. 

 

 

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