Oct 15, 2010

FX Path

FX Path

USD/CAD - Bearish Bias Within Steep Downtrend

Posted: 15 Oct 2010 08:51 AM PDT

Price action on USD/CAD (a daily chart of which is shown) as of Friday (10/15/2010) has shown some bullish correctiveness today after hitting parity (1.0000) on Thursday, but overall the pair still appears biased to the downside in line with the steep downtrend. For more technical analysis on this currency pair, please click here for Friday’s (10/15/2010) Chart of the Day.

James Chen, CTA, CMT

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