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USD/CAD Takes out Lows and Reverses

Jamie Saettele, CMT

Daily

eliottWaves_usd-cad_body_usdcad.png, USD/CAD Takes out Lows and Reverses

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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FOREXAnalysis: The trendline that extends off of the May 2010 and October 2011 highs pinpointed the USDCAD high. As long as price is below 1.0420, respect potential for a deeper correction of the advance from .9632 although today’s reversal sets sights on 1.0260 in the near term.


FOREXTrading Strategy: Flat

LEVELS: 1.0013 1.0067 1.0152 1.0226 1.0261 1.0287

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