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Seven-Year Uptrend to Continue

The seven-year uptrend in the SP500 is set to continue. Look at the monthly chart below. This US Stock Index is now in one of the longest bull runs in history. Of course eventually the party will end. But until it does, it would be unwise to bet on red.
On the second chart below we can see a shorter-term view of the market. Notice the classic V-shaped pattern below. This is a bullish pattern. It signals that the bears have been trapped by the sudden price rise. More gains should follow from her…
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Yen Looks Overbought

The Yen looks overbought. Normally a safe-haven currency, the Japanese Yen got bought up aggressively in the post-Brexit mayhem. But as we can see on the 4 Hour chart below, things are starting to change with prices possibly bottoming out. We have now retraced over 50% of the Brexit related move, with possibly more gains on the way.
There are signs of a bottom on longer-term charts as well. Notice below how the Stochastic has clearly hit oversold territory in the USD/JPY. The Stoch moved below 2…
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Volatility in USD/CAD to Die Down

The USD/CAD experienced unprecedented volatility this year, largely due to the oil price shock. Prices first fell over 50 percent to below $50/barrel, then rallied 50% from here to just above $64 dollars. Canada is a large oil exporter. You can see these swings on the weekly chart below.
But with Oil starting to enter a range between $50 and $60 dollar per barrel, the USD/CAD should stabilize as well. Canada may also benefit from the stronger US economy.
On the technical front, we seem to be top…
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My prediction has been spot on so far. The USD/CAD bounced right at the 1.2500 mark then fell over 370 pips to a low of 1.2170. But again as predicted that volatility will decline, the lows were quickly bought up and the currency pair rallied back to the 1.2500. The total monthly range for USD/CAD is 436 pips so far.

Prices are currently trading at 1.2476, about 21 pips above my target. Hoping for some US Dollar weakness into the end of the month.

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