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The Canadian dollar is heading into medium-term weakening. On the weekly chart, the signal line of the Marlin Oscillator reversed upwards from the zero neutral line (arrow), which indicates a prospective probability of a medium-term price increase.
Today is Tuesday, but the current weekly candle has a pronounced rising look. You can even mark the first targets on the weekly timeframe: 1.2956 is the high of December 2020, 1.3041 is the low of November 2019. The strategic goal that we are interested in on the weekly chart is the upper limit of the price channel. The target range is determined by the high of September 2019 and the high of September 2020: 1.3382-1.3420.
On the daily chart, the Marlin Oscillator began to develop a growing movement after a false short-term retreat into the negative zone (arrow). The price rises above both indicator lines.
On the H4 chart, the price settled above the lines of balance and MACD, Marlin moved into the positive area. We are waiting for the development of price growth.
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