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USDCAD short by yshashmi37 on TradingView.com
Midterm forecast:
- The current trend is uptrend but the forecast is beginning of downtrend.
Technical analysis:
- While the RSI support #1 at 46 is not broken, the probability of price decrease would be too low.
- A trough is formed in daily chart at 1.3110 on 07/16/2018, so more gains maximum to Trend Hunter Sell Zone (1.3085 to 1.3125) is expected.
- Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
- Relative strength index (RSI) is 50.
Take Profits:
- 1.3000
- 1.2910
- 1.2805
- 1.2730
- 1.2665
- 1.2545
- 1.2465
- 1.2250
- 1.2060