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[QUOTE="AlexanderLiteForex, post: 49527, member: 22090"] [b]USD/CAD: general analysis[/b] [b]1. Current trend [/b] Today the pair demonstrated rapid rise, correction reached the level of 50.0% Fibonacci. Though there weren't any important events in the economic calendar that could have triggered this rise. Therefore correction will end soon and «bearish» trend is likely to continue. Canadian statistics will also support the rise: experts expect the increase of the construction permits and the rise of the index of business activity in the manufacturing sector. Forecast for the US economy is not so optimistic: it is expected that volume of consumer lending will drop to 15.4 billion USD; as per the report of the Ministry of Energy oil and oil products inventories will also decline. [b]2. Levels of support and resistance[/b] The pair is trading around strong resistance level of 1.0440, from which the pair will probably go down. It is likely that downward movement will reach the level of 1.0382, where the midline of the “Bollinger bands” indicator is located. [b]3. Trading tips [/b] I would advise to sell at the current price with the target at 1.0382. The price is unlikely to exceed this level today. Later, the price will probably reach the level of 1.0329. [img]http://www.liteforex.com/uploads/other/a8b961ff4f9634e13b1d24b2def1eb40.png[/img] [i]Kamil Avad Analyst of LiteForex Group of Companies.[/i] [/QUOTE]
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