Canadian Greenback Outlook
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USD/CAD – A Bullish U-Flip
On Nov 5, USD/CAD declined to 1.3154. Nevertheless, the value rallied and recovered all of the day’s losses, reflecting vendor’s exit of the market. This marked a bullish shift and opened the way in which for patrons to take the lead after.
Alongside this, the Relative Power Index (RSI) crossed and remained above 50, highlighting the tip of downtrend transfer with a attainable begin of uptrend momentum.
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USD/CAD DAILY PRICE CHART (AUg 15, 2017 – Nov 12, 2019) Zoomed Out
USD/CAD DAILY PRICE CHART (June 18– Nov 12, 2019) Zoomed In
From the day by day chart, we discover on Nov 6 USD/CAD rallied to the next buying and selling zone 1.3166 – 1.3256. On the next day, the pair examined buying and selling beneath this zone though, the day by day candlestick closed above its low finish, indicating to…