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USDCAD is relentless

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 15, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The price of Daily US Crude Oil has dropped from USD38/bbl at the start of this calendar year 2016, to break to a 12 year low of USD29.50/bbl. On the other hand U.S/ freight volume fell for the first time in nearly 3 years and freight data is a leading indicator of economic activity – GDP growth. It makes USDCAD resistant to big dips and buying on support is still the valid option. On the chart we can see historical camarilla levels compared to today’s camarilla pivots. The first POC comes in

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