Hot-Charts
USDCAD Approaches Wedge
by
Feb 24, 2009 15:09
| 1 Comment
![Usdcadfeb 24 USDCAD Approaches Wedge - Usdcadfeb 24 (Chart 1)](/content/images/v1/hot-chart/usdcadfeb 24.jpg)
USDCAD has increasingly shown its negative... correlation with equities as the Canadian dollar currency is positively related with the risk appetite. Markets may drop following another shocking US number (US confidence at 25 vs expectations of 35). But with markets unlikely to engage in a hard sell-mode before tonights Obama State-of-the-Union speech, we could expect a relatively robust performance in equities and short-lived declines in USDCAD towards 1.2400, followed by 1.2355. TL support is expected to hold and counter the downturn in stochastics, making way for a testing of the 1.2580 by mid week.
More Hot-Charts
-
Nasdaq100 Daily & Weekly
Jul 17, 2024 17:53 | by Ashraf LaidiThe triple top in weekly RSI suggests the following price and time implications: . PRICE: 18700. TIME: Duration of downside may last for another 3 to 4 weeks. -
Aussie View
Jul 3, 2024 17:14 | by Ashraf LaidiThe Australian dollar is the 3rd highest performing currency in the G10 so far this yearm behind USD and GBP. -
Aussie View
Jul 3, 2024 17:14 | by Ashraf LaidiThe Australian dollar is the 3rd highest performing currency in the G10 so far this yearm behind USD and GBP.
Like if bernanke actually initiate buying of treasury securities.