USDCAD analysis 17.02.2020

The overall trend is upward. The support level of 1.3235 is holding back sellers. A double truncated pattern of the H2 and H1 levels has formed. Awesome Oscillator shows a bullish divergence. Stochastic Oscillator indicator located in the oversold range. A possible rebound has formed in the range of 365 and 135 moving averages.

Trading recommendations:

Buy while an ascending pattern is forming, where the wave (as) breaks through the inclined channel of the descending pattern of the H2 level.

Stop loss under the local minimum (1.3235).

Target levels: 1.3300; 1.3320.

Author: admin
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