Forum

Posts by "smundy"

2 Posts by Anonymous "smundy":
   
1
smundy
Canada
Posted Anonymously
16 years ago
May 4, 2009 17:06
In Thread: Loonie's Falling Downside
Ashraf,

Based on my previous analysis posted on April 9th, it does look as if the Canadian has in fact broken out to the downside. With the Negative correlation between Equities and the Canadian, I can see a test against a low set back on Jan 6th 2009 at 1.1755, which it hit this morning. However, due to the continued run up in equities and the target of 950 looming (S&P), this support level may be a wet paper bag, thus pushing the Canadian down to the 1.1530 Fib level. With a possibility of hitting the low set in November 5th 2008 at 1.1458. Your feed back in much appreciated.

Thanks
smundy
Canada
Posted Anonymously
16 years ago
Apr 9, 2009 18:23
In Thread: Loonie's Falling Downside
Ashraf,

The USDCAD seems to be teetering on the brink of a downside breakout drawn from mid Oct 2008...even though Canuck economic data seems to be negative for the currency, equities seem to be propping up the CAD. If the S&P continues to rally, at least to the 875 level, the loonie looks like a possible 1.1990 candidate?

Thanks
Report Reply
   
1