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Apr 14, 2025
Trade ideas
USDCAD: Weekly
In the Weekly timeframe, USDCAD aims to retest the trendline at the 1.3850 support level.
The price breached below the Bollinger Bands; however, the MACD crosses the 0-line down, giving a mixed sentiment:
A breakdown of the trend line below the support at 1.3850 will start the fall to 1.3480;
A rebound from the trend line will return the price to 1.4360 resistance.
Trading foreign currencies on margin involves significant risks and may not be suitable for everyone, as high leverage can increase both potential gains and losses. Before entering the foreign exchange market, it is essential to evaluate your investment goals, personal experience, and risk tolerance.
Author: Timur Yurdagyul
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