USD/CAD - Daily Candle Chart 24th February 2009

USD/CAD - Daily Candle Chart 24th February 2009

I haven’t posted about the usd to cad for a couple of days, as there is very little to say. There was little surprise when the wide spread up candle of a few days failed to materialise into anything and we are now back in the same old pennant pattern of the last few months. My advice still stands, and that is simply to wait and see – there are plenty of other currency pairs trending very nicely at the moment with money to be made, so why try and gamble with this one! I have added in the pennant lines just so that you can see how it is moving at the moment. The main fundamental news out today is in the US, with Fed Chairman Bernanke speaking later and I have covered all this in more detail on the euro to dollar site.