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USDCAD lengthy consolidation points to bullish breakout
video USDCAD extended its consolidation phase around the crucial 2017 low of 1.2060 for the third consecutive week, increasing speculation that the bears are losing the fight and the bulls could soon take charge. Indeed, the positive slope in the RSI and the Stochastics, which are sailing away from oversold waters, and the upside reversal in the MACD suggest that downside risks are fading. Still, the 20-day simple moving average (SMA) appeared quite restrictive over the past two days and unless it gives way, the bears could dominate, risking another negative extension towards the 1.1920 level taken from the low of ... (full story)
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- May 28, 2021 7:00am May 28, 2021 7:00am
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kingleeny
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