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The Daily Forecaster

DAILY FORECAST FOR USDCAD

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by , 11-03-2009 at 11:14 PM (467 Views)
[B]Bias: [/B] While 1.0688 caps I feel we should see the 1.0596-1.01621 area tested but then correct

The drop to 1.0648 only looks like half of the decline and I feel we'll see more soon. Ideally then 1.0688 resistance should hold and generate follow-through to 1.0596-1.0621 where I'd expect a correction higher. Thus, only below 1.0596 an 1.0882 would extend losses to 1.0544 and probably 1.0488-1.0510.

Please view the complete analysis in the attached PDF file.

For a full description of how to use the analysis please see the Analysis page of my website. The prior day's set ups for potential trading levels highlighted in the report are now available on the Daily Forecast page of my web site.
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