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USDCAD: Setting up!

Daily Time Frame: Starting on the daily we can see that price is ranging between our weekly 1.38000 psychological support and our 1.42250 daily psychological resistance. However, price is in the middle of the range, so it would be wise for price to enter our gray zones for a higher probability setup.


4Hr Time Frame: Scaling down to the 4hr we can see price approaching our daily resistance. If price manages to reach this zone, we will then be looking for a break or bounce situation. If it breaks look to by this up to 1.46500 key zone and if it bounces look to sell this back down to 1.38000 key support. Due to the uncertainty of market fluidity, risk management is highly recommended.


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