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USDCAD: 290-Pip Reversal Underway?
USDCAD has spent the better part of 2019 moving sideways. However, the price action in early March saw buyers take advantage of what appears to be a bottoming pattern. The inverse head and shoulders below could be indicative of a move higher. You can see how buyers defended new support at 1.3290 during yesterday’s session. And USDCAD bulls are off to a fast start once again today. My only concern here is the U.S. dollar. I’ve been relatively vocal about the potential for a EURUSD rally later this year. And that means a weaker USD at some point. But that could happen later this month or two months from now, so it ... (full story)
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- Mar 15, 2019 1:15pm Mar 15, 2019 1:15pm
- rashidcm2004
- | Joined Mar 2009 | Status: Member | 60 Comments
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- Mar 15, 2019 2:00pm Mar 15, 2019 2:00pm
- Tony112
- Joined Apr 2008 | Status: sometimes... news come unexpected | 2533 Comments | Online Now
Invest in alarm clocks
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- Mar 15, 2019 4:34pm Mar 15, 2019 4:34pm
- afevir
- Joined Feb 2019 | Status: Member | 1224 Comments
Confucius: the man who broke the mountain was the same man who started ...
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- Mar 16, 2019 8:34am Mar 16, 2019 8:34am
- Hutch
- Joined Apr 2010 | Status: Lazy trader on D1 charts | 689 Comments