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#2289 (permalink)

01-19-2009, 11:03 AM

John Kicklighter John Kicklighter is offline

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I'm not really impressed with the potential for USDCAD. The pair has fallen into congestion in the middle of an otherwise vague range (though resistance is certainly clear, support is not).

For a CAD pair, CADJPY is far more pressing. The pair is making a major base around 71.00/25 and there is clearly momentum in the the trend of lower swing highs that defines a dominant trend.

We have the potential in a break above 74, 75 and the falling trend now at 79. Alternatively, a clean move below 71 could usher in a much more prolific move.

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