USDCAD holding above ascending trendline channel! Further upside coming!

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USDCAD holding above ascending trendline support. With technical indicators showing room for further bullish momentum, a further push up to our 1st resistance at 1.29500 could be possible.

Trading Recommendation

Entry: 1.27015

Reason for Entry:

61.8% Fibonacci retracement , 100% Fibonacci extension and ascending channel trendline

Take Profit: 1.29500

Reason for Take Profit:

100% Fibonacci retracement , 100% Fibonacci extension and swing high resistance

Stop Loss: 1.26510

Reason for Stop Loss:

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

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