Friday’s wide spread down-bar in the usd to Canadian dollar pair mirrored many other currency pairs as generalised dollar weakness took hold across the currency market strengthening the Canadian Dollar further and adding increased momentum to the bearish move lower, plunging past our second target...
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US Dollar Canadian Dollar – Daily Currency Chart 8th May 2009
Yesterday’s short squeeze was indeed “short” in every sense of the word but, once again provided us as currency traders with further opportunities to enter short positions as the downward spiral in the US dollar to the Canadian Dollar pair continues as we hurtle towards...
USD vs CAD – Daily FX Chart 7th May 2009
Yesterday’s candle continued the downwards move in the usd to cad unabated, and the expected short squeeze failed to materialise other than in a temporary move higher in the morning trading session which provided further opportunities for placing sell orders. With the market now waiting...
USD to CAD – |Currency Trading Daily Chart 6th May 2009
With a host of important fundamental news on the economic calendar for both the US Dollar and Canadian Dollar today it is not surprising to that many currency traders banked their profits yesterday in advance of today’s busy calendar, and are now waiting on the...
USD to CAD – Daily Spot Market Chart 5th May 2009
With yesterday’s forceful breakout rampaging through the 1.18 price point detailed in yesterday market commentary for the usd to cad there is now nothing to prevent a rapid and further move deeper to re-test the 1.15 region and beyond, and this should now be our...
USD to CAD – Currency Trading Daily Chart 4th May 2009
The only item of fundamental news on the economic calendar for the usd to cad pair is the Pending Home Sales figures which are expected to come in 0.1% down from 2.1%. From a technical perspective last week’s price action in the usd to cad...
USD vs CAD – Daily Chart Trading Currency 1st May 2009
The usd to cad paid seems to be reaching our 1.18 price target much faster than we expected with yesterday evening’s slight reversal only providing a temporary blip in the strong downwards move which has gathered pace in the last three days and has continued...
USD to CAD – Currency Trading Daily FX Chart 30th April 2009
Yesterday’s wide spread down bar added considerable momentum to the downward move and with all three moving averages now weighing heavily on the usd to cad pair there is one direction in which this pair is likely to go and that is “Due South”. Indeed...
USD to CAD – Daily FX Chart 29th April 2009
As we expected yesterday’s rally duly ran out of steam finishing the day with a failed attempt to break above the 9 and 14 day moving averages with a long upper shadow and small body replicating the price action of the last two highs in...
USD to CAD – Daily FX Chart 28th April 2009
Yesterday’s general market flight into the US dollar prompted by a combination of swine flu wrecking any hope of a global economic recovery as well as worries that both Bank of America and Citigroup will require yet more money to shore up their capital base...
