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06.04.201210:09 Forex Analysis & Reviews: USD/CAD Survey according to the Point and Figure Charting for April 6, 2012

Long-term review

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Having overcome the strong resistance level 0.998, the USD/CAD pair changed the main tendency to uprising one providing the strong signal for Buy-deals.

In the point 0.999 the pair was under the sellers pressure resulting in the resumption of the descending movement within correction. The downside movement continued to the main line of downward trend 0.990.

Presently we can observe the continuation of upward movement.

The main target for sellers is seen at the strong resistance level 0.999. In case it has been overcome, the way to the point 1.005 will open.

As the main tendency remains uprising, today it is recommended to buy the pair only after the breakdown of the resistance level 0.999 with first target seen at the 1.005 level.

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