| USD/CAD - Drop Below Parity Posted: 14 Apr 2010 08:51 AM PDT  Price action on USD/CAD, a daily chart of which is shown, has finally made a significant tentative breakdown below parity (1.0000), establishing a new 22-month low in the process. This occurs after a prolonged consolidation around parity. The directional bias on USD/CAD continues to be bearish in line with the prevailing long-term, medium-term, and short-term downtrends in the pair. For more technical analysis on this currency pair, please click here for Wednesday’s (4/14/2010) Chart of the Day.
- James Chen, CTA, CMT * For information on my DVD set, High-Probability Trend Following in the Forex Market, please click here.
* For information on my book, Essentials of Foreign Exchange Trading (Wiley), please click here. 
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