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USDCAD Bull Threat through 1.1100 for 1.1155/70

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USDCAD Bull Threat through 1.1100 for 1.1155/70

USDCAD bull trend extension bias

·         Further erratic price action over the past 24-36 hours to highlight similarly erratic activity over the past 1-2 weeks, but again, as we had expected, resolving with a more positive bias.

·         The push back through resistance at 1.1030 has now pushed up above 1.10763, to leave risk to the cycle high at 1.1100.

·         Through 1.1100 aims for 1.1155/70 and maybe even the secular high at 1.1280.


·         Below 1.0975 eases bull risks; through 1.0887 signals a neutral tone, only shifting negative below 1.0811.

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Steve Miley is The Market Chartist and has over two decades of financial market experience with him. He spent 2009-2012 as a Director of the FX Technical Analysis Research Strategy team at Credit Suisse and was previously at Merrill Lynch for 15 years; 10 years as a technical analyst, 5 years in Fixed Income sales.

He was 2013 winner of the Technical Analyst Magazine Award for Best Independent Fixed Income Research & Strategy, Runner Up for the same award in 2014 and was the winner of Best FX Research & Strategy 2012 (at Credit Suisse).

Steve is a Member of the Society of Technical Analysts (MSTA) and holds a Masters Degree in Politics, Philosophy & Economics from Lincoln College, Oxford University.

Steve has covered all major asset classes including Rates & Credit, G10 & EM currencies, Equity Indices & Sectors and Commodities and has strong relationships across the institutional financial trading spectrum, including Central Banks, Real Money accounts, Hedge Funds and other Global Corporates.



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