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<b> MARKET</b> ANALYSIS <b> MARKET</b> ANALYSIS

MARKET ANALYSIS

Cutting-Edge Market Commentary for Informed Strategy Making

DAILY TECHNICAL ANALYSIS  20/02/2023


USDCAD

USDCAD has manαged  to form a valid trendline since 14/02/2023 and break above its major resistance 1.34589.
Price now seems to be retesting the level 1.34589 trendline.
If the price bounce we might see a movement around 1.35409.
If the price drops below the 1.34589 level we might see a drop until 1.33589.



     

Tesla

Tesla has been trending up since 06/01/2023. Newer price now seems to have higher highs but with a lack of momentum.
According to the RSI indicator, this is a bearish signal.
If the price breaks below 188.07, we may see a decline to 123.78
If the price is above 217.80, we might see the uptrend continue.



XAUUSD

XAUUSD continues to move down, the price is now in a correction phase. If the price respects the prevailing trend after the correction, we may see a downward move to 1802.513 which is the 161.8 level of the Fibonacci ratio.




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