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Canadian Dollar Forms 'Golden Cross' but Loses Momentum
This week, the Canadian dollar formed a 'golden cross' against the US dollar. The last time this happened was in October, but it didn't turn out to be very favorable for CAD.
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AI Analysis
The formation of a 'golden cross' occurs when a short-term moving average crosses above a long-term moving average, often signaling a potential upward trend in the currency. In this case, the Canadian...
AI Recommendation
Considering the recent formation of a 'golden cross' but the historical context of poor performance following similar signals, it is advisable to adopt a cautious stance. Rather than rushing into long...
Disclaimer
The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.