USD to CAD - Daily Candle Chart 12th February 2009

USD to CAD - Daily Candle Chart 12th February 2009

Well what a surprise – the usd to cad pair moved sideways again just for a change with a shooting star candle yesterday. The point of the pennant pattern continues to form and it will be interesting to see how tight the range becomes before we see the inevitable breakout move. There is little else to say at the moment, other than stay out ( unless you are trading a straddle option).

All the fundamental news is in the US later, with Core Retail Sales, Retail Sales and Unemployment figures due to be released. The speeches yesterday had little impact on the markets, as expected!