This morning’s return to a modicum of dollar strength is hardly surprising given the extent to which it has fallen against the Canadian Dollar which has been aided and abetted by problems in the German banking system and North Korea’s Elvis loving “Dear Leader” who...
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US Dollar vs Canadian Dollar – Daily FX Chart 21st May 2009
Yesterday’s wide spread down bar added further momentum to the bearish avalanche which continues almost unabated and burst through our initial target of 1.15 promptly followed by our second target of 1.14 so I hope you have been following this pair all the way down...
US Dollar vs Canadian Dollar – Daily Chart 13th May 2009
Yesterday’s candle finished the day in a down bar, having initially risen in early trading which proved to be a short lived reversal following the better than expected fundamental news on the economic calendar from Canada which promptly strengthened the Canadian Dollar once again, leaving...
US Dollar Canadian Dollar – Daily FX Chart 11th May 2009
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...
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 – 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 – 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...
