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USD/CAD 9 Days Up for First Time Since 2010

USD/CAD 9 Days Up for First Time Since 2010

Jamie Saettele, CMT, Sr. Technical Strategist

Monthly

USD/CAD 9 Days Up for First Time Since 2010

Chart Prepared by Jamie Saettele, CMT

Automate trades with Mirror Trader and see ideas on other USD crosses

-USD/CAD is at a long term parallel line and long term horizontal level (1986 high is 1.4420). The line in question is the parallel to the line that extends off of the 1991 and 2007 lows. This same technique identified support in 2011. Weakness below 1.3815 is needed in order to flip the near term trend.

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk

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