Friday, June 27, 2014

USD/CAD uptrend

Something I also saw coming a while back was that CAD was going to weaken, why shouldn't it… the AUD had already came down massively. Commodities were already under pressure. 

There's a massive real estate bubble in Canada as well.

USD/CAD rallied all the way to 1.1278 and now has been declining heavily past weeks.

There's a massive bull channel and it just so happens that the bottom of that bull channel is the area where USD/CAD broke out of before ranging for a couple weeks and breaking out further.

I believe we're going to test that pivotal point (around 1.06) and then go back to 1.1+

I'm going to patiently wait for the pivotal point to get hit, and then I will start sending probes.



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