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Christopher Lewis
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The USD/CAD pair tried to rally during the session on Monday, but found the 1.12 level to be a bit too resistive and therefore pullback to form a shooting star. The shooting star of course signifies that there could be some bearishness coming into the marketplace, we think that is only going to end up being more consolidation as is market traceable up enough momentum to break out to the upside. If we break the top of the shooting star, we feel that the market will then try the 1.1250 handle, and then above there continue on the longer-term uptrend towards the 1.15 handle.

 

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