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Barchart
Jim Wyckoff

The Canadian Dollar is Trending Down as the U.S. Dollar Index Fights to Bottom Out

December Canada dollar futures (D6Z25) present a selling opportunity on more price weakness.

See on the daily bar chart for the December Canadian dollar futures that prices are starting to trend down and have formed a bearish double-top reversal pattern. See, too, at the bottom of the chart that the moving average convergence divergence (MACD) indicator is in a bearish posture as the blue MACD line is below the red trigger line and both lines are trending down.

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