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USDCAD Prepped for Long Drive Higher

July 18th, 2010

Following a monthly trend shift higher at the end of June, USDCAD looks to be in good shape to reverse the previous 1-3/4 bear market, after putting in a higher low this year in March on the yearly chart. 

USDCAD Weekly chart pictured 

Jay Norris is the author of  Mastering the Currency Market, McGraw-Hill, 2009 and a Trading Instructor at Trading-U.com. To see details of Trading-U’s available course work go to Trading Course

DISCLAIMER: Forex (off-exchange foreign currency futures and options or FX) trading involves substantial risk of loss and is not suitable for every investor. Risks include the potential that changing political/economic conditions may substantially affect the price/liquidity of a currency. Investors may lose all or more than their original investments.

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