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Development on USDCAD is worth exploring

For the last few weeks, my focus has been on the USDX and major pairs.
In my previous post, I mentioned 2 important factors to be monitoring (not exhaustive):
1. the importance of the SPX breaking above 1900 to signal further USDX strengthening which has happened.
2. GBP/USD to retrace back to 1.667 (which is close to happening with an almost perfect A-B-C wave retracement)
Having said that, the USDCAD has been catching my attention in the last week as well as the CAD's strengthening position re…
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GBP and CHF catches eye

FX WEEKLY SCAN
Based on a weekly scan, I have a particular focus on the USD Index and the GBP Index.
The GBP Index is trading within a strong up-trend that suggests further strength in the next few months.
Further, the USD Index is trading at a critical juncture with a failure below its major support exposing major downside.
With the ATR trading at daily lows, I conclude that the GBP/USD will retrace in the shorter term and provide a good entry for a longer-term buy position. The downside is inv…
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AUD/CAD will "edge" higher towards 2014

Forecasting currency price movements 2 months out is always challenging - I have decided to apply some techniques to narrow the range of the currency movement and then decide on a direction.
(1) Narrow the range of currency movement
As per the chart below, I have identified the range over the next 2 months to be from 0.9534 - 1.0234 (700 pip range). This is based on the historical analysis of 12 years of Nov and Dec ranges for the AUD/CAD which identified two interesting points:
[list][/list]…
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