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Disclaimer: This is my personal Blog, reflecting my very own views on Forex , shares and commodity tradings. As such, all informations provided here are barely for information purposes only,. The author should not be held liable for any errors, incomplete information, delayed messages, or for any actions taken in reliance on information contained herein.This blog is new, being established on 06,May.2010. While I am executing trades, posting will be sent simultaneously. The date/Time indicated here is of US Pacific zone(++15 Hours for Singapore/KL/Beijing, Or ++7 hours GMT)

Tuesday, July 20, 2010

USD/CAD ---- Another profitable trade on the eve of Canada's Rate revision ??

In view of the persistent weakness of Dollars recently, the upcoming rate revision from BOC ( Today 09:00 EST ) which may  present  to all  forex  Traders with another golden opportunity on USD/CAD .

We do note that USD/CAD has moved up over 300 pips over the last three trading days, that is rather abnormal without much convincing technical /Fundamental supports.

On H4, breaking below 1.0475, being the Ichimoku Cloud Top would signal its rapid plunging towards 1.0391 (its 38.2% Fibo Retr,), follows by 1.0274 (its recent low)

Strategy 

SELL Down near 1.0530 ( near its pivot,, on slight recovery)

SL==60 PIPS

Target: 1.0390, follows by 1.0270


H4 Chart of usd/cad
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