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Technicals Favor CAD Longs
chart Ahead of Biden's Presidential inauguration in the US and with Martin Luther King Jr. public holiday, the Forex market went through a day of rather suppressed volatility. These dynamics were particularly true in the heaviest currencies by order of volume transacted. I am referring to the US Dollar, the Euro and the Japanese Yen. In currencies such as the British Pound of the Canadian Dollar, solid buying was observed, including a long signal to speculate in further upside in the latter. chart A period of consolidation at a key technical crossroads has ensued following the sharp sell-off experienced last ... (full story)