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USDCAD spikes higher and comes back down. What next for the pair technically?

Arguably, there is nothing worse than getting fundamental news that is bullish - like the US retail sales data today. Then have the dollar move higher as it did in USDCAD, but then nearly as fast, reverse all the way down,and retrace the gains. However, part of trading is defining targets. In the USDCAD, the pair moved up to a swing area target between 1.3687 and 1.3700. The high price reached 1.3702 just above the high of that target, and buyer started to turn into sellers.Now the price has mov... Read More

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Usdcad

Spikes

Higher

Comes

Back

Down

What

Pair

Technically

Forex

Posted: Oct 17 2023, 15:42

Author Name: forexlive

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