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USDCAD has more room to fall; struggles below 61.8% Fibonacci level
USDCAD has been underperforming over the last sessions, breaking back below the 61.8% Fibonacci retracement level around 1.2385 of the up-leg with the low of 1.2060 and the high of 1.2915. When looking at the bigger picture the pair holds the bearish structure and has been trading lower on the back of US dollar weakness. Short-term momentum indicators are also pointing to a continuation of the bearish bias. The RSI indicator stands in the negative territory and is pointing south, suggesting further losses. Also, the stochastic oscillator is ready to reach the oversold area and the %K line is attempting a bearish ... (full story)
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- Jan 26, 2018 7:41am Jan 26, 2018 7:41am
- xjames26
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- Wayne2401
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- Jan 26, 2018 8:36am Jan 26, 2018 8:36am
- Superflex
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