Home  Long Term Forex Analysis USDCAD Analysis - Apr 23, 2008
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USDCAD Analysis - Apr 23, 2008 |
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Written by ForexCycle.com
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Tuesday, 22 April 2008 |
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USDCAD is in down trend. Further fall to test 0.9709 previous low support is still in favor and a break of 0.9987 level will confirm such case. Key resistance is at 1.0378, only break of this level will signal the resumption of the long term up trend.
For long term analysis, USDCAD formed a long term cycle top at 1.0378 on weekly chart. Pullback to 0.9650 area to reach the next long term cycle bottom is now in favor.
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