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USD/CAD – approaching a price line that has been previously tested numerous times in the past

USD/CAD is moving towards a support line. Because we have seen it retrace from this level in the past, we could see either a break through this line, or a rebound back to current levels. It has touched this line numerous times in the last 6 days and may test it again within the next 17 hours.

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After testing resistance twice in the past, Light Sweet Crude Oil FEBRUARY 2022 has finally broken through. Can we expect a bullish trend to follow?

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