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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...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex

DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...
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...If the dots don't connect, gather more dots until they do...




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Friday, September 30, 2011

I'm officially "crazy"...(or should I say loonie)...

Yahoo...I'm officially crazy...the USD/CAD reached its IH&S 1.05 target today...see my blog posts on September 22nd: http://strawberryblondesmarketsummary.blogspot.com/2011/09/usdcadcall-me-crazy-part-ii.html     AND   June 16th: http://strawberryblondesmarketsummary.blogspot.com/2011/06/usdcad1015-eh105-ehcall-me-crazy.html

Its next major level of resistance is in the vicinity of 1.10 (a level last seen in September 2009) as shown on the Quarterly chart below.

Just for fun, here is what the Yearly chart looks like so far...with 3/4 of 2011 gone now, the current candle has nearly formed a bullish engulfing to last year's open.

The $1 million question is, "Will the US $ see 1.30-1.35 again?"...which is the next major resistance area on this timeframe.