USD to CAD - Daily Candle Chart 12th October 2009

USD to CAD - Daily Candle Chart 12th October 2009

The usd to cad pair continue their inexorable slide towards parity ending Friday’s trading session with a another widespread down bar which merely confirmed once again the shooting star candle of the previous week which was the first signal of structural weakness at this price level.  The bearish picture was further confirmed during the week by the 9 day moving average crossing below the 14 day and giving us a bear cross signal, and with all three moving averages now adding additional pressure to the bearish picture parity remains firmly on the horizon.

With a national holiday in both the US and Canada expect to see some volatile price moves based on very thin trading volumes.

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