Sunday, March 29, 2009

USD/CAD still in the channel

A couple of weeks or so ago I wrote about the Greenback/Canadian Dollar trading within a pretty well-defined channel. We are still within that channel (clicking on the charts give you a clearer view):



...and, of course, you should look at the chart with the trade triangles:



It should also be noted that I am expecting the equity markets to consolidate or go lower here (at least for a little while.) That being said, the Canadian Dollar is a 'risk' currency and can act with the markets.


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