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How To Make Money Today: USD/CAD Daily Market Analysis and Forex Trading Signals 27 January 2022

To assist you to make a good day-trading selection, we’ll cover the newest forex market analysis. Make more money today with our market analysis. You must know how to trade first and have at least a simple understanding of chart patterns. Aside from that, we’ll cover some basic tips and methods that can aid anybody curious in day trading strategies. So let’s start by looking at some charts from today…

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USD/CAD:

On the H4,  prices have broken out of our descending trendline and are on bullish momentum. We see the potential for a bounce from our 1st support at 1.26954 in line with 61.8% Fibonacci extension towards our 1st resistance at 1.27416 in line with 127.2% Fibonacci extension. Alternatively, price may break 1st support structure and head for 2nd support at 1.26139, in line with 61.8% Fibonacci projection and horizontal swing low support. Prices are trading above our ichimoku cloud support, further supporting our bullish bias.

Areas of consideration:

  • H4 time frame, 1st support at 1.26966
  • H4 time frame, 1st resistance at 1.27416
usdcad technical analysis

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