Home  Long Term Forex Analysis USDCAD Analysis - Jul 19, 2008
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USDCAD Analysis - Jul 19, 2008 |
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Written by ForexCycle.com
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Friday, 18 July 2008 |
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No changed in our view, USDCAD's down trend remains and deeper decline is expected to 0.9900 area. Key resistance is at 1.0238, a break of this level will indicate that the fall from 1.0322 has completed and up trend has resumed.
For long term analysis, USDCAD is forming a long term cycle bottom at 0.9818 level on weekly chart. Key resistance is located at 1.0322, a break of this level will confirm the cycle bottom.
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