Previous analysis USDCAD from November 26 gave more than a 400 pips profit. I wrote: “In the coming days demand should carry out another attack at the resistance 1.3400” and “if this resistance will be broken, next target for demand is at the level 1.3860”. Actually continuation of upward movement is very dynamic and today price tested 1.3780 level.
Since 2004 price wasn’t at such high levels. Currently next resistances should be looking for at monthly time-frame. It should be noted that levels from monthly time-frame aren’t precise. Nearest resistances are at area: 1.3860, 1.4070. If there will be a correction nearest support is at 1.3430 level.
Time-frame H4
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Time-frame monthly
