Is the Canadian Dollar about to be hockey sticked
- Posted by PeterLBrandt
- on May 17th, 2013
Major bottom in the USDCAD (top in Canadian Dollar futures) is possible
I will let the charts speak for themselves with minimum commentary.
The monthly USDCAD chart shows that the USD is near historic lows to the CAD. The weekly chart shows a possible massive H&S bottom with a complex H&S bottom serving as the right shoulder. The weekly chart of the CAD futures displays a massive possible H&S top with a H&S top as the right shoulder. A decisive close by the nearby futures below the .9572 low is needed to complete this pattern.
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Peter Brandt entered the commodity trading business in 1976 with ContiCommodity Services, a division of Continental Grain Company. From his start in the commodity industry, Peter's goal was to trade proprietary funds. But, he first needed to learn the business. More »