USDCAD was identified at around 1.376775 having recently rebounded of the resistance on the 4 hour data interval. Ultimately, the price action of the stock has formed a Channel Down pattern. This squeeze may increases the chances of a strong breakout. The projected movement will potentially take the price to around the 1.3739 level.
Supported by Downward sloping Moving Average
Target: 1.3739 Entry: 1.3768 Stop: 1.3845
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