Wednesday, March 14, 2012

USDCAD update

Ok, so we did not get the move higher to 1.00 in USDCAD, and right now it seems that we will be headed lower in a 5 wave sequence that will lead us to at least 0.98/0.9750 area. However we will have a confirmation only if we go back bellow 0.9895, so I would not advise you to sell before we fall below that level. A rise above 0.9945 will invalidate this scenario and will call for a rise to 1.0050. A good strategy would be to sell bellow 0.9895 with take profit at 0.98, , or buy above 0.9945 with take profit at 1.0045
Good Luck:)

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