Trend Lines

Charts courtesy of AdvancedGet. Data provided by eSignal.

Above charts are of the CAD, Euro & GBP. You will notice the Euro and GBP are just below the trend lines which they will need to break if the price is to continue up. The CAD however, has bounced off the long term trend line which is usually a bullish sign.

I will put an analysis up on Monday after weekend data.

Good luck today.

Next Post Tomorrow

Sorry, I am unable to update today. I will do next post Friday morning.

CAD Chart

Chart courtesy of Dynamic Trader version 5. Data provided by eSignal.

Here is a chart of the CAD for you to view.

Raise the Stops

It is time to lock in more profits on the CAD if you have not already done so.

Cup & Handle

In case I have not previously mentioned this for those that follow chart patterns, the weekly CAD as produced a cup and handle.

I also want to thank Ash for bringing the USDCAD pair to my attention.

Once again, good luck.

CAD Up

I woke up to see a very nice profit this morning. I am scaling out on the CAD as I am swing trading this.

You will notice the 34 60 and 8 daily as well as the 13 daily are all bullish.

Good luck today.

Diverging

The Euro 60 Minute and Cable 60 Minute are both showing divergence.

Hope some of you have bagged some profit on CAD since yesterday.

Good luck today.

Canadian Profits

Those that followed my analysis this morning and traded the CAD should start to lock in some profits if day trading.

Canadian Support

Chart courtesy of Dynamic Trader version 5. Data provided by eSignal.

Since I have mentioned about the Canadian Dollar we have gone down on a swing basis although the price has made a couple of nice moves up on an intra day level which would have been profitable for those using fib levels and pivot points intra day.

I have provided a day chart of the Canadian Dollar with the support levels. A breach of these and we need to reconsider. However, both 8 daily and 13 daily are oversold and support levels are nearby so risk is minimum using correctly managed stops. If the CAD is on a wave 3 then swing/position trading this might be worthwhile as the trend line on the weekly has been broken and a pullback and continuation pattern had occured.

I don't usually look for position trades but this may be one of the few that I might decide to take up. In a downtrend you sell the rallies. In an uptrend you buy the dips.

Good luck for the week everyone.