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Currency analyst

USD/CAD: "bulls" are going to counterattack

On the USD/CAD daily chart, "bulls" failed to keep the quotes above resistance at 1.3306, it has become a signal of their weakness. "Bears" pulled down the pair to the lower boundary of the rising trade channel. Here the "bulls" may launch their counterattack. 

On the USD/CAD hourly chart, "bulls" are trying to regain their initiative, having broken the boundaries of the downward trading channel. Successful test of resistance at 1,315 may lead to the restoration of uptrend. If the target 127.2% of the "Perfect Butterfly"  pattern (1.3) is fulfilled, it will create prerequisites for the attack of "bulls".

Recommendations: 

BUY 1,315 SL 1,3095 TP1 1,324 TP2 1,3305

BUY 1,3 SL 1,2945 TP1 1,315 TP2 1,324. 

CAD
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