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Technical Analysis for EURUSD and USDCAD

Technical Analysis for EURUSD and USDCAD

EURUSD gapped up higher today and is keeping most of the gains after the results of French election. The pair hit the daily high at 1.0904 and made the low at 1.0820 just below the 200d MA and is moving slower higher after. It is bullish that EURUSD tested with success the 200d MA, so we will stay long as the pair is trading above that support.

USDCAD makes and impressive comeback after touching the daily low at 1.3410, enhancing the bullish momentum that we wrote about last week. We are expecting short covering to start soon in the US session.

 

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This technical analysis is intended to provide general information and does NOT constitute the provision of INVESTMENT ADVICE. Investors and traders should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

 

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