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USD/CAD Longs Favored Between 1.0150 and 1.0170

USD/CAD Longs Favored Between 1.0150 and 1.0170

2013-04-16 21:49:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Daily Bars

eliottWaves_usd-cad_body_usdcad.png, USD/CAD Longs Favored Between 1.0150 and 1.0170

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Are you new to FX or curious about your trading IQ?

FOREXAnalysis: “The USDCAD has broken through trendline resistance. The sideways, slow-trading nature since the March 1 high suggests that the trade is corrective. Today’s impressive push through the trendline and 4/5 high is bullish.”

FOREXTrading Strategy: “Want to get long at 1.0150/70 with a 1.0080 stop.”

LEVELS: 1.0103 1.0150 1.0190 1.0267 1.0342 1.0407

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