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USD/CAD – Same Price, Same Date, Different Year

USD/CAD – Same Price, Same Date, Different Year

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

USD/CAD – Same Price, Same Date, Different Year

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-Recent updates have noted that “a positive USD/CAD bias is warranted whilst above 1.2834 but be aware that trade since the May low could compose a wedge that gives way to the next down leg within a bearish cycle from the January high.” USD/CAD is nearing decision time. A break below the trendline near 1.2900 (but really 1.2834) would favor the bearish wedge interpretation. Interestingly, the rate is within a few points of the low set exactly one year ago.

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

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