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| Earlier this week, we were preparing for an explosive breakout on the USD/CAD. First, we noticed that when the pair was on the downside, up until a few days ago, it did manage to surpass it's previous low before it started turning around. That's a very important step when trying to determine a real-time turning point in the market.
The mid-low key level of 1.3209 was our main point of refference and test level. We knew that in order for the USD/CAD to fully reverse and begin a new upside trend, it has to break that barrier. That was our primary condition, before building up a decent size bullish position on the USD/CAD.
After a few failed attempts, an explosive move had triggered our interest with the USD/CAD, and now we are fully engaged with a long position. Potentially speaking, the pair can easily push towards the next imminent resistance and mid-high key level of 1.3524. Needless to say, that is our primary price target for this perticular bullish campaign.
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