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S&P 500
5,046.58
(
-0.49%
)
US TECH 100
16,919.20
(
-0.83%
)
Dow Jones
38,064.89
(
-1.03%
)
Brent Oil
88.02
(
0.92%
)
Bitcoin
64,706.42
(
0.67%
)
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PhotoChick

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PhotoChick

Re: PhotoChick post# 506

Monday, 01/09/2012 12:08:57 AM

Monday, January 09, 2012 12:08:57 AM

Post# of 572
USD/CAD's fall was contained at 1.0075 last week and rebounded strongly. The development indicates that fall from 1.0422 is finished. Initial bias is mildly on the upside this week for upper trend line resistance (now at 1.0417). After all, USD/CAD is still bounded inside converging range since 1.0656. Firstly, as long as 1.0051 support holds, we'd favor an eventual upside breakout. But secondly, break of 1.0422 is needed to be the first signal of breakout and target a test on 1.0656 high. Otherwise, near term outlook will remain neutral for more choppy sideway trading.


At Your Own Risk ;)

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