Welcome to my Trading Blog

Disclaimer: This is my personal Blog, reflecting my very own views on Forex , shares and commodity tradings. As such, all informations provided here are barely for information purposes only,. The author should not be held liable for any errors, incomplete information, delayed messages, or for any actions taken in reliance on information contained herein.This blog is new, being established on 06,May.2010. While I am executing trades, posting will be sent simultaneously. The date/Time indicated here is of US Pacific zone(++15 Hours for Singapore/KL/Beijing, Or ++7 hours GMT)

Sunday, October 10, 2010

USD/CAD ---Will it breach 0.9900 near term ??

The imminent weakness of Dollars and the relatively good commodity prices including Crude shall push this currency pair  USD/CAD  down to below parity near term.

Looking at the Daily chart with trend lines, we observe that the Triple -Tops pattern have been formed  and all the Bearish divergence indicators are pointing toward below Parity near term.

The Resistance is near 1.0360(50% Fibo), and strong support is at 0.9900( Its recent Low) .


Daily Chart on USD/CAD showing the Triple-Tops 

Posted by at
Labels:

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)