USDCAD – Double top formation

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Technical Monthly: We had an impulsive rally from the 2011 low (0.9407) to the 2016 high (of 1.4690). The correction lower found buyers close to the 50% pullback level of 1.2049. Mixed trading for the last 28 months looks to have formed a bullish descending wedge formation. We have broken the formation to the upside. Reverse trend line support is now located at 1.3060 Weekly:  Although p...

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