DailyFX Forex Forum | FX Forum - View Single Post

		DailyFX Forex Forum \| FX Forum
Sidebar Wrapper

Thread: USD/CAD

View Single Post

#898 (permalink)

12-28-2007, 05:57 AM

Terri Belkas Terri Belkas is offline

Moderator

Join Date: Jan 2007

Posts: 808

The dollar's losses haven't been as severe in the USDCAD pair, but nevertheless, it is testing support at the 38.2% retracement level of the rally from 0.9055 - 1.0248 at 0.9792. A break below here goes on to target 0.9652, but I'm thinking the dollar's drop may be a bit overextended against currencies like the Euro, and that USDCAD will continue to consolidate around the 0.98 handle.

Attached Images

Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Any opinions, news, research, analyses, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. Forex Capital Markets LLC. will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.