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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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Daily Video Analysis: USDCAD facing bearish pressure, potential for further drop!

Today we take a look at USDCAD. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups. Price has just broken below the ascending trendline support, where we could potentially see a further drop from our sell entry level, in line with ascending trendline support-turned-resistance, towards our take profit level in line with our -27.2% Fibonacci retracement. Price is also holding below the moving average resistance, in line with our bearish bias.

The material has been provided by InstaForex Company - www.instaforex.com