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  • Loonie-Sings Retracement 0 comments
    Feb 18, 2014 2:33 AM

    The Canadian Loonie's all-time low against the Singapore Dollar is hovering at the psychological level of 1.15. This number is begging to be a candidate for a mid to long-term retracement going back to the pair's 2nd untested scalar buy-side bottom of 1.20 in the 250-pip scale chart, which has a relatively high random probability (5 out of 6 or 83.33%) when compared to the previous bottoms (green lines) which were quickly retested as soon as they were broken. One can even see how it tried to retrace the 1st untested bottom of 1.25 at the end of 2012, which never happened, or at least, not yet. SEE CHART HERE.

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