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16.04.201209:46 Forex Analysis & Reviews: USD/CAD Survey according to the Point and Figure Charting for April 16, 2012

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The USD/CAD currency pair has overcome the strong resistance level 0.997 and changed the main trend to uprising one.

At the moment the pair is located within the correction of the wave волны 0.993-1.005.

The main target for sellers is seen at the resistance level 1.005. In case it has been overcome, the strong signal for Buy-deals will be provided and the way to the point 1.012 will open.

The second support level is seen at 0.993 where the main line of ascending trend is drawn. In case it has been broken through, the main tendency will change to downward one providing the strong signal for Sell-deals.

The relative strength of the USD/CAD pair is located in the X column confirming the purchasers’ force. As long as the main tendency remains ascending, today it is recommended to buy the pair only when the main resistance level 1.005 with first target seen at 1.012 has been overcome.

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