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Thread: Cad

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    Default Cad

    The dollar against the Canadian Dollar dropped down yesterday to reach to the major support level at 1.1060s after it formed the reversal pattern since it just finished the projection move towards the upside. Today we expect the pair to drive down in a continuation pattern for the downside trend, the level that might stop the USD/CAD today is the 1.1000.

    The trading range for today will be between the key resistance at 1.1100 and the key support at 1.1000.

    The general trend is down as far as 1.1485 remains intact, targets will be at 1.0970 and 1.0875.

    selling USD/CAD below 1.1095 with a target at 1.1020, stop loss above 1.1135.

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    kanzsea
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    Default

    do you think cad wil more down or will change trend

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    Default

    what about today

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    Default

    an observation i have seen in this currency wich make it not so easy to trade.
    most currencies like to go on oscillations cycles

    but mostly this currency doesnt like to go on short cycles against most currencies or at least eur or usd. most of the time bollinger bands get really close on this currency for so long time. then explode to 1 side. so in my experience is really hard to trade it.

    but the good side is when you know where is headed, the pips get incremented like crazy too. sm_win

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