USD/CAD: a positive impulse

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Trade idea

BUY 1.3390; TP1 1.3440; TP2 1.3540; SL 1.3355

USD/CAD recovered last week from the 2018 support line in the 1.3150/00 area. On D1, the Awesome Oscillator crossed the zero line to the upside. We can see that the pair closed yesterday above the resistance line connecting late January and February highs just above 1.33. This may be a neckline of an inverted “Head and shoulders” pattern. The target of this formation lies on the upside, at 1.3540.

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FBS Analyst Team

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