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Usd/Cad: Sell-Off To Come


July 18 2011

Usd/Cad reached levels above wave (a) recently and if we are correct, then we know that wave 2 flat correction should be near completion, which will send Usd/Cad into a new low. In fact we can see also sign of a huge head and shoulder pattern, which is another evidence for a continuation of a bearish trend.

Weakness in view towards 0.940 and even lower as long as the critical region at 0.9777 remains in place.

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