USDCAD – Signs of Weakness

(Click on image for larger view) Hi All, Here’s a quick update on what I’m looking at. The above is the USDCAD Daily chart and price has recently testing a long term resistance level (~ 1.28). This level was last tested in early part of 2009. However, there was a clear Support-turn-Resistance pattern in Jan 2004…

Continue Reading →

Weekly Commentary: 27th July 2014

Previous weekly commentary: Commentary on 20th July 2014 Hello Traders, The USD closed the week around $81.10, this is definitely a new high compared to last week and this looks like a more and more convincing new up trend too. On top of that, this is a new higher high compare to high in early…

Continue Reading →

Weekly Commentary: 13th July 2014

Previous weekly commentary: Commentary on 6th July 2014 Hello Traders, The USD index closed the week around $80.20 and this week seems like a correction market. Having said that, when looking at the bigger picture, I need to remember that price is till pretty choppy and, in line with my commentary last week, until I…

Continue Reading →

Weekly Commentary: 22nd June 2014

Previous weekly commentary: Commentary on 15th June 2014 Hello Traders, The USD index remained stagnant again and there was not much movement. As price continues to test the $81 resistance, price continues to consolidate. My view remains consistent with previous weeks and I need to see a clear and committed break out in any direction…

Continue Reading →

Weekly Commentary: 25th May 2014

Previous weekly commentary: Commentary on 18th May 2014 Hello Traders, This week the USD Index closed higher at around $80.40. This is inline with what I’m looking for and, as mentioned last week (see article), price needs to break and close above $80.80 as that will give me a new higher high in price action. The…

Continue Reading →

USDCAD – A Reversal In the Making?

(Click on image for larger view) Hi All, Since my last commentary on the 6th April (see article), price has been unfolding itself and it looks like a reversal pattern in the making. Why do I say that? Well, looking at the chart above, price has been on an uptrend since Sept 2012. While my long…

Continue Reading →

Weekly Commentary: 6th Apr 2014

Previous weekly commentary: Commentary on 30th Mar 2014 The USD Index closed higher this week, not too surprised based on what I’ve mentioned last week. As price continues to move higher, I will be watching closely as soon as price starts to approach the $81.50 mark. Until then, I will continue to be bullish on…

Continue Reading →

Weekly Commentary: 12th Jan 2014

Previous weekly commentary: Commentary on 5th Jan 2014 Hello Traders, Well, the USD did not take off as expected and to be honest, price is getting more and more blurry in terms of its directions. The coming week will be important for me to get a sense of where price will be heading next. I need…

Continue Reading →

Weekly Commentary: 8th Dec 2013

Previous weekly commentary: Commentary on 1st Dec 2013 Hello Traders, As expected from last week’s update, the USD index closed lower this week at around $80.30. With such price action, this should give me comfort that the next target will be around $79. Price action has now set some direction for me and with December…

Continue Reading →

Weekly Commentary: 17th Nov 2013

Previous weekly commentary: Commentary on 10th Nov 2013 Hello Traders, The USD index closed the week at around $80.80. This week has been a slightly sideway market and it’s also the first correction since the rally since 25th Oct. With that, I’m going to be in a wait-and-see mindset this week. The following is my watch…

Continue Reading →

Page 1 of 3