USD/CAD

Quoting Erebus

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Price Action, something interesting, (1) 2026 Open, price goes up, (2) price goes down, look at stall on open price, (3) price goes up, (4) price reverses right at open level and 50% retracement, (5) price goes down to lower low? {image} Not trading advice but check the DXY also.

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Quoting T721

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{quote} still see it dropping a long way yet. 1.33000 / 1.32500 imo

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Quoting T721

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{quote} still see it dropping a long way yet. 1.33000 / 1.32500 imo

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Quoting Erebus

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{quote} I agree, here is an update on my last chart, new data from the yellow highlight. I think the issue here is with the rangebound, it took a long time for CAD to get strong on the OIL price, and it took a long time for OIL to recognise the implications of the WAR, which the USD was partly a safe-haven, which made it harder for CAD to overpower it, hope that made sense! {image} Worth following now it's rejected 2026 Open once again

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Quoting Erebus

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{quote} I agree, here is an update on my last chart, new data from the yellow highlight. I think the issue here is with the rangebound, it took a long time for CAD to get strong on the OIL price, and it took a long time for OIL to recognise the implications of the WAR, which the USD was partly a safe-haven, which made it harder for CAD to overpower it, hope that made sense! {image} Worth following now it's rejected 2026 Open once again

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Quoting tiborf71

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usd/cad. H4. I see that as long as the northern 39600 zone holds, there is hope for a southern correction. Which would be timely. There is no serious resistance level between the 39600 and 37500 zones. So there would be no obstacle to the correction. There are two trend lines between the two levels that will have to be overcome. but this is just technical analysis.

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