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FOREX: Technical analysis 09/21/12

21.09.2012

Market Review

USD/CAD

News background:

If inflation data today will show its growth, it can support the Canadian dollar against the U.S. dollar due to expectations of growth of the interest rate. It is also necessary to consider the Fed initiatives, which will adversely affect the U.S. dollar.

Technical picture:

From a technical point of view, the pair is in the lower Bollinger below MA 5 and MA 21.

Oscillator Stoch. included in the zone pereprodzhannosti. The RSI indicates there is the prospect of local growth.

Trading recommendations. Sell a couple of short-term to 0.9700.

Technical analyst at Forex Bulygina Marina.

Analytical department of Grand Capital

Author: admin

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