USDCAD

Selling off from the yearly highs at 1.3000 for 34 of the last 51 days, we suggest selling 2 out of every 3 days.  Momentum and CCI are diverging a bit but have not made any new highs suggesting that until they do, selling will make you more money than buying.  The fact that the pair has only had 3 days above the 20EMA since the beginning of April further highlights this fact.  If you are looking to buy, there is a low risk buying opportunity around the yearly lows at 1.1475-ish with tight stops below.  Until we see price action close above the 20EMA and Kijun line, we expect selling to continue and a possible move towards 1.1000 and 1.0800 which was the highs leading into October 2008 before the pair launched up towards 1.3000 in a mad 3 week sprint.  Sell on rallies or daily closes below 1.1459.

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