| USD/CAD - Drop to Key Support Posted: 02 Sep 2010 09:08 AM PDT  Price action on USD/CAD (a 4-hour chart of which is shown) as of Thursday (9/02/2010) has settled above 1.0470 support once again after having just descended from a key resistance re-test in the 1.0670 price region, which formed a double-top high. This all occurs within the context of a short-term parallel uptrend channel extending from the early August low. For more technical analysis on this currency pair, please click here for Thursday’s (9/02/2010) 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.
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