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The USD/CAD chart is exhibiting a bullish momentum, suggesting a potential scenario for price to pull back towards the 1st support level before making a bullish bounce towards the 1st resistance level.
The 1st support level at 1.3692 is identified as an overlap support while the 2nd support level at 1.3607 is also noted as an overlap support. To the upside, the 1st resistance level at 1.3784 is identified as a swing-high resistance that aligns with the 78.60% Fibonacci projection level. Higher up, the 2nd resistance level at 1.3846 is noted as a resistance level that aligns with the 127.20% Fibonacci extension level.
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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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On the 4-hour chart, the Natural Gas commodity instrument appears to have a bearish 123 pattern followed by a bearish Ross Hook (RH) plus confirmation that the price movement
If we look at the 4-hour chart of the AUD/JPY cross currency pair, we will see a Descending Broadening Wedge pattern where this pattern gives an indication that
Early in the American session, gold is trading around 3,381, retreating after reaching a high around 3,397. Gold as a safe-haven asset is nervous due to geopolitical tensions around
Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful
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