USD/CAD Signal- January 15, 2013

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By: DailyForex.com

Currency: USD/CAD
Method: Ichimoku Kinko Hyo
Description: Today's catch is the US Dollar and the Canadian. As per the old Japanese Ichimoku clouds, the shorter term average has completed a dead cross below Kijun sen the red average two weeks ago by a sharp drop with a long red candle that formed a good resistance level. The trend has penetrated the could Kumo which it tells a good chance for further drop for the coming week or two. The sentiment is negative and the Chikou is reflecting the bearish move. I will short and hold the pair with open target at the moment and keeping my Stop Loss just above the cloud at 1.0000 level.
Recommendation: Sell and Hold
Stop Loss: 1.000
Target: Open

USDCAD Signal 11513

Fadi Steitie is an entrepreneur, investor and professional Forex trader who shares Forex signals based on his keen understanding of the market. Fadi is an expert in Elliott wav principles and Ichimoku Kinko Hyo, and he is a managing partner in one of the leading organizations in protective coating in the Gulf region.

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