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IntelliTrade365

USDCAD BUY OFF PROVEN SUPPORT/RESISTANCE

Long
U.S. Dollar / Canadian Dollar (FX:USDCAD)  
IntelliTrade365 Updated   
FX:USDCAD   U.S. Dollar / Canadian Dollar
Trend Analysis Chart Patterns Pennant
3
0
trendanalysis chartpattern pennant
This 1.3375 zone has been tested multiple times in March with the first key bounce down taking place in January. I'm going with the already prevalent upward motion here playing the long as a continuation off of this key area. Target sits around 1.3445, about 70 pips from the zone where a down sloping trend line may intersect with price to form the 3rd hit of what looks to be the top of a pennant pattern. Stop loss is well below the lower trend line of the pennant around 1.3270.
Trade closed manually:
Cutting losses on this one.
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