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$/cad, long held bearish remains but....

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 23, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    $/cad nearer term outlook: In the March 15th email once again affirmed the bearish view, adding that despite increasing positives there was still no confirmation of a low "pattern-wise" (5 waves up on shorter term chart for example). The market has indeed continued lower since, reaching a low at 1.2920 on Mar 18th (a level not seen since last Oct). No change as positives remain and include an oversold market after the decline from the Jan 20th high at 1.4690, potentially slowing downside

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