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USDCAD – Heading for parity: USDCAD = 1?

Sometimes we need a catalyst in the market to make things move, the USDCAD traded just above an important level for more than week, in a very tight range (mostly untradeable), but on Friday, just after the Canadian unemployment report, the USDCAD broke an important long term support level:

USDCAD

USDCAD

I’m bearish in the USDCAD and looking for short opportunities.

If you asked me if I think the USDCAD will reach parity in the near future, I would say yes.

Trade Safe!

Raul Lopez
http://www.straightforex.com/

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This entry was posted on Monday, March 15th, 2010 at 5:31 am and is filed under Technical. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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