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USDCAD 260 Pips bullish run expected. Will it reach Sep high?

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USDCAD
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⏳4 Hour chart
🎲 Possible entry analysis
⛳️ Possible bull/bear target
📚Educational

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Detailed analysis 💬

1️⃣ Trend line bounce, Break and retest around 1.31500
2️⃣ 1.32500 Price action level-Dynamic support
3️⃣ Risk off mode and Rising of virus infections, Falling of Oil- WTIUSD prices
4️⃣ 1.34000 Key psychological resistance
5️⃣ Price Movement within the broader upward channel
6️⃣ Parabolic move was expected from 1.31000 to 1.35000
7️⃣ Technical support - Bear
8️⃣ Minor Bullish Trend
9️⃣ September high Immediate resistance
🔟 Strong DXY- Upward pressure- Negative for CAD
#️⃣ Overall bearish trend

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📉 Technical bias-H4-Bullish

Above200 Exponential moving average
200EMA acting as immediate support - Bullish trend
Possible entry point-1.32600
Relative strength index - 50> Above neutral area. RSI trend line support
MACD -Felled below the middle line, Red zone territory, Oscillators pointing downward
Stochastic -Around neutral area -Short term bullish trend
Ichimoku cloud -cloud is turned green-Cloud Support
Bollinger band- Price is around higher band-Middle band acting as dynamic support

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Key reversal area's
1.34000 Key psychological level
1.34160 September month high
1.32510 Dynamic support and resistance
1.36000 Key psychological level-Major key reversal area
1.31200Lower trend line reversal area
1.132510 Possible entry- Bullish

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Bullish entry #USDCAD

Entry price - 1.32520

Take profit 01 - 1.33500 (100 pips)
Take profit 02 - 1.34150 (165 pips)
Take profit 03 - 1.35150 (260 pips)

🚫 Stop lose 1.31940 (55 pips)

Alternative bearish entry-1.34170

⬇️ 2.0% Growth expected
⤴️ Account growth 0.45 : 2.00
✅ Risk reward ratio 1 : 4.2

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