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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
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Thursday, June 16, 2011
USD/CAD...1.015, eh?...1.05, eh?...call me crazy...
If USD/CAD can clear and hold above 0.98, price may have a chance at eventually reaching 1.015...see IH&S formation on Daily chart below...so far the 50sma (red) is holding as near-term support after generally acting as resistance since April 2009...on a longer look ahead, price swirled around 1.05 from October 2009 until September 2010 when it finally started a decline to a low of 0.94446 in May 2011 (see second chart below)...perhaps price will somehow find its way back to that level...yeah, and maybe the Vancouver Canucks will win the Stanley Cup next year!...I can say this because I'm a Canadian, eh...: