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USDCAD: Long Trade Triggered Above 1.02

USDCAD: Long Trade Triggered Above 1.02

2011-12-30 08:17:00
Ilya Spivak, Sr. Currency Strategist
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Strategy: Long at 1.0210, Targeting 1.0394

USDCAD put in a bullish Breakaway candlestick pattern below above support at a rising trend line set from late October, hinting an upswing is ahead. We will enter long here, initially aiming for a soft target at 1.0394. A stop-loss will be activated on a daily close below 1.0125.

USDCAD_Long_Trade_Triggered_Above_1.02_body_Picture_5.png, USDCAD: Long Trade Triggered Above 1.02

Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow me on Twitter at @IlyaSpivak

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