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| Discuss USD/CAD at the Crossroads at the Forex within the Traderji.com - Discussion forum for Stocks Commodities & Forex; Looking at USD/CAD, we can see a major bullish SMA crossover on the daily (50 ... |
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#1
8th July 2008, 09:08 PM
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USD/CAD at the Crossroads
Looking at USD/CAD, we can see a major bullish SMA crossover on the daily (50 SMA crossing 200 SMA). Price is trading within a major symmetrical triangle, and the minor symmetrical triangle within it provides near resistance to the upside. Momentum reflected in RSI remains on the gate, modestly bullish (around 50 and flatish) Further selling and confirmation of a top in crude will put further pressure on the CAD and bolster the case for a major bullish trend change in USD/CAD.
 Analysis By TradersLog.com 
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