USD/CAD pair continuing to rise - Nov 2
I hate to admit that I have a love
affair going with the Canadian dollar
lately, but I do - mainly because I
am heavily committed to it. Not that
I see the loonie rising. Far from it.
I see the USD/CAD pair continuing to
rise because of all the bad economic
news coming out lately driving the
loonie down. And, it ain’t going to
get any better for the loonie any
time soon folks. Fundamentals are
like the Queen Mary. They change
direction ever so slowly. And,
right now, they say the Canadian
economy is in for one heck of a
rough ride.
That can be either good or bad -
good if you’re short the loonie -
which we are with our long USD/CAD
positions. Right folks!? Yesterday,
we had an up- trend continuation in
the works on the 15 minute chart,
and it came to fruition today, once
MACD neutralized back to the
waterline. There was also evidence
on the higher level charts that
this pair had wind in its sails.
That’s the value of top-down analysis.
For more education on what the Big Dogs
know that they are hiding from you,
you’ll find those well-kept secrets in
the members area at
Learn to trade foreign currencies with Peter Bain Video ForEx Course