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USDCAD approaching resistance, potential drop!

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Dollaro / Dollaro canadese (FX:USDCAD)  
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FX:USDCAD   Dollaro / Dollaro canadese
Trend Analysis Harmonic Patterns Chart Patterns USDCAD USD CAD usdcadlong usdcadshort Forex forextrading forexsignal
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trendanalysis harmonicpatterns chartpattern usdcad usd cad usdcadlong usdcadshort forex forextrading forexsignal
USDCAD is approaching our first resistance at 1.3266 (Horizontal overlap resistance, 78.6% fibonacci retracement, 100% fibonacci extension) and a strong drop might occur below this level pushing price down to our major support at 1.3142 (Horizontal overlap support, 61.8% Fibonacci retracement, 100% fibonacci extension).
Stochastic (34,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level.
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This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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