| USD/CAD - Continued Stretch Down Towards Parity Posted: 16 Mar 2010 12:24 PM PDT  USD/CAD as of Tuesday (3/16/2010) afternoon New York session continues its bearish stretch towards its downside parity (1.0000) target, having just established a new 19-month low in the process. Parity has not been reached since July 2008. Currently, after having broken below key support around 1.0200, this broken support level should now serve as tentative resistance within the context of the continuing downtrend in the pair.
- 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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| Gold - Bullish Bounce off Long-Term Trendline Posted: 16 Mar 2010 08:46 AM PDT  Price action on spot gold, a daily chart of which is shown, has made a swift and pronounced bounce off a long-term uptrend support line. This long-term trendline was falsely breached in early February, but has subsequently been respected since then. Most recently, price action descended back down to the trendline last week before making the pronounced bounce this week. On Tuesday (3/16/2010) in particular, price action on gold has made a strong bullish move, closely approaching resistance in the 1130 price region. For more technical analysis on this currency pair, please click here for Tuesday’s (3/16/2010) 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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