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USDCAD : Correction Within Uptrend

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Jan 21, 2016.

  1. Sandra S.

    Sandra S. Forum Member

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    USDCAD reached new highs around 1.4700 yesterday where bears step in and caused a strong bearish turn. Notice that move was sharp and it also closed lower at the end of the day, which is an important signal for a temporary top in place. At the same time price took out the trendline connected of waves one and two which is another important indication of a completed five wave rise from 1.3810. That said, traders must be aware of more weakness or at least sideways price action as we see new wave

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