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USD/CAD – More Downside Likely In the Weeks Ahead

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 29, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Early last week we saw the USD/CAD consolidate over key support levels which was leaving us with quite a few options on the table as to the short0term pattern. At that time I noted that I was viewing the 1.3652 support level as a key signal level that would help indicate if we were indeed going to see a C wave higher back into the 1.4000 range or if we would simply continue to move directly into the lower bypassing the C wave back into those higher levels. Well, it took a few tests of this

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