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USD/CAD: Corrective Move Ahead

Published 06/25/2013, 03:44 AM
Updated 07/09/2023, 06:32 AM

The USD starting to show signs of weakness of Monday, and a possible corrective move. The overall outlook for the USD is still strong in the current price action, but a corrective move is on charts for most pairs. Tuesday seems to be the day for counter trend traders.
Intraday traders should look to sell USD in short term and take advantage of corrective move.
If you are not into counter trend trending then wait for a better entry to buy USD .

The USD/CAD has bounced off after a strong long move, and is currently in corrective leg. Expect to test support at 1.04500

Sardar Uddin
TradeCuts
www.tradecuts.com

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