Yesterday’s wide spread down bar did indeed confirm the strong bearish signals that I discussed in yesterday’s daily commentary and I hope that you are currently sitting on some nice profits with this price action continuing in trading this morning as we see further falls...
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USD to CAD – Daily Forex Chart 23rd April 2009
Yesterday’s candle was a carbon copy of Tuesday’s, with the only difference being that the body of the candle closed higher as opposed to Tuesday’s which closed lower. Both candles were accompanied with long upper shadows which both failed to penetrate the 40 day moving...
Currency Markets – USD to CAD 8th April 2009
Yesterday’s down bar confirmed two things for us from a technical perspective as follows. Firstly the bar confirmed that the bullish signal seen on Monday can now be ignored as a failed indication of a bearish reversal, and secondly with the close now below both...
Trading Currencies – USD to CAD 7th April 2009
Wow – yesterday’s fundamental news on the economic calendar for the usd to cad pair came as a complete shock to the market (and me) coming in far worse than expected with building permits falling a whopping -15.9% against a forecast of -3.6% and with...
USD To CAD – Daily Candle Chart 6th April 2009
The hanging man and shooting star on last week’s daily chart for the usd to cad pair, was subsequently confirmed on Thursday with a widespread down bar and on Friday with a further down bar, the latter of which also included a long upper wick...
USD to CAD – Daily Candle Chart 2nd April 2009
Yesterday’s upthrust coming on the back of the hanging man of Tuesday suggests that the mild bullish bias of the last few days may have run its course even though the close finished above all three moving averages, and that the bearish reversal seen in...
USD to CAD – Daily Candle Chart 1st April 2009
Yesterday’s candle which closed marginally lower on the day nevertheless provided a modicum of bullish momentum to the existing, as I suggested, with prices initially falling and then recovering in the evening session to close well above all three moving averages. Of particular note was...
USD CAD – Daily Candle Chart 30th March 2009
The week ended on the daily candle chart for the usd to cad with an up bar with the close of the day marginally above the 9 day moving average which came as no great surprise following the three consecutive small doji candles. This up...
USD to CAD – Daily Candle Chart 27th March 2009
There is little to add to our analysis of this pair and yesterday’s candle which was a perfect doji cross simply reinforces the general picture of the likelihood of a continuing period of sideways movement and consolidation prior to a move a lower which we...
USD to CAD – Daily Candle Chart 26th March 2009
With no direct fundamental news relating to the Canadian the market will look to the US instead and, in particular, the unemployment figures, final GDP figures, natural gas storage numbers and, of course, probably another foot in mouth appearance by the increasingly gormless Geithner. The...
