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...
USD vs CAD – Daily Spot Forex Chart 22nd April 2009
Yesterday’s candle on the usd to cad pair provides us with several interesting points for analysis, following the rate decision by the Bank of Canada to cut to 0.25%. On the day the pair closed lower but with a deep upper shadow suggestive of a...
USD To CAD – Currency Trading 21st April 2009
Yesterday’s dramatic wide spread up bar certainly added a new dimension to the term “short squeeze” which was certainly more pronounced than I would have expected closing well above both the 9 and 14 day moving averages. The combined effect of a dramatic fall in...
USD to CAD – Forex Chart Today 20th April 2009
There is only one item of meaningful fundamental news on the economic calendar for the Canadian dollar today and this is the foreign securities purchases issued by Statistics Canada. The data measures the value of domestic stocks, bonds and money market assets purchased by foreigners...
Trading Currency – Currency Markets USD to CAD 17th April 2009
As suggested in yesterday’s commentary we did indeed see a short term reversal or short squeeze in the usd to cad currency pair, and this reversal may continue for a day or so before we see a continuation of the bearish trend reinstated once again,...
Currency Trading USD to CAD – Daily Chart 16th April 2009
Yesterday’s wide spread down bar added continued momentum to the bearish move in the usd to cad currency pair with all three moving averages adding considerable pressure to the downward trend which broke through a strong region of resistance and has now cleared the way...
USD vs CAD – Currency Chart 15th April 2009
With all three moving averages now pointing lower yesterday’s down bar came as no great surprise, although it did finish the day with a shadows to the body both above and below, mainly due to the torrent of fundamental news released in the afternoon in...
