22 April 2015

USD/CAD : Trend Reversal?

  • Technical outlook changed. Buying on dips is no longer appropriate.
  • Weekly and daily chart reversed course, now looking bearish.
  • Is a sell on a pullback towards 1.2350 neckline on the daily chart.
  • CAD highly correlated to crude oil. Reversal partly triggered by recent rally in crude and chart suggests more upside to crude (now $56).

1 comment:

Anonymous said...

Just read from you pinboard the news about the TRS shutdown. Very surprised. Very stupid of the government. This is a bad sign for Singapore's future. Even Hong Kong has more press freedom!