USD/CAD analysis of the week (4h candlesticks)

By ForexTribe
19 November 2009 @ 04:37 am EDT

The lower band of our short term bullish channel allow the parity to rebound and the price is currently testing the upper band of the former bearish channel which match with the level 38.20% (1.0617). The break out of this level will give a new buy signal. We will still advise to trade only long positions as far as the parity is into its bullish channel. Only a break out of the lower band will give a true sell signal.



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