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Aug 12

TECHNICAL ANALYSIS BY NSFX 12.08.2013

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There is a head and shoulder pattern on the US dollar against the loonie.  The neckline is quite close to current market price. From an inter-market point of view if risk appetite comes back then the pattern has an high probability of success. If volatility and risk reversal trades will occur then USDCAD  spike up to test the year high at 1.0609.

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