Euro Selloff Continues
EURUSD The Euro continues to drop, as fear of an escalating crisis pressure the currency. Price has been moving down in a wide price channel. If price can penetrate the lower channel line, that would indicate a...
Tag: USDCAD
USDCAD Analysis – November 27, 2010
USDCAD traded in a range between 0.9977 and 1.0378. Another rise towards 1.0378 key resistance would more likely be seen next week, a break above this level will bring price further to 1.0600 or even higher. Support...
Canadian Dollar Marches towards Parity
USDCAD After testing the falling trendline, prices have resumed their downward trek. Interestingly the move down today is symmetrical to the move up that took price up from 1.01 to 1.0240 (see green box), a week ago....
A Mixed Outlook for the Dollar
EURUSD After a steep slide, the EURUSD starting recovering in the latter portion of last week, rising from 1.3450 to nearly 1.38. On the way down price broke through the 1.38 support level without much trouble, but...
USDCAD Analysis – November 20, 2010
Being supported by 0.9930 previous low, USDCAD traded in a range between 0.9977 and 1.0378. The price action in the trading range is likely forming a double bottom pattern. Another rise to test 1.0378 key resistance is...
Prepare Your Shorts
AUDNZD The heat is back on, with the AUDZND retesting short-term support after a brief rally last week. The pair has formed a bearish channel, and continues to make lower highs, and lower lows. The last test...
USDCAD Analysis – November 13, 2010
Being contained by 0.9930 support, USDCAD may be forming a double bottom pattern at 0.9979 level. Bounce towards 1.0378 key resistance would more likely be seen next week, a break above this level could bring price to...
A Fractal View of the USDCAD
USDCAD – 4 hour The 4 hour chart shows the recent drop in the USDCAD, touching the October lows today. The drop over the past 2 weeks has been swift with no significant countertrend pullbacks until yesterday’s...
Jobs data boosts Dollar
The NFP data indicated that businesses are starting to hire, providing the dollar with a much needed jump against many currencies. EURUSD The Euro fell back to support, now sitting precariously on its 2-week long rising trendline.
USDCAD Analysis – November 6, 2010
USDCAD is facing 0.9979 support, a break below this level could trigger another fall towards 0.9700 area. However, as long as 0.9979 support holds, one more rise towards 1.0600 is still possible.