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2Oct/090

December Canadian dollar

10/2/09 - December Canadian dollar – After trading in a choppy sideways consolidation pattern over the past several weeks, it tried to breakout on September 17 when it traded to a new high. The breakout failed and the Canadian dollar reversed and traded sharply lower over the next six days…trading below the previous pivot low in the process. The subsequent corrective rally reached the 60% sell window (9347) at the same time as it reached the descending parallel reaction line.  Sell Canadian dollar at 9215 stop, with the stop loss at 9375.

December Canadian dollar

December Canadian dollar

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