Today is December 5th and it looks like it may be the first positive session in the Canadian dollar in 10 sessions. Future traded to their lowest levels since May of 2010 yesterday but for now it appears .9350 will be the line in the sand in December futures. One cannot look at the Canadian […]
Tag Archives | Loonie
CAD – The Loonie has a Broken Wing
I hate to date myself here but as a young man I was very fond of the video game duck hunt- a “classic” shooting game for the first version of Nintendo. Just as those birds fell from the sky I think the Loonie short term is headed south. Most followers are aware I have been […]
Canadian Dollar, North of the Border
The Canadian dollar has made strides in the last six weeks. After bouncing off support at 0.9650, we’ve now retraced 38.2% of the downtrend that began last September. Prices are north of all major moving averages I use in FX and I see higher trade ahead for the Loonie, especially in light of recent moves […]
Is the Loonie set to fly?
After starting 2013 with a 5% slide the Canadian dollar has found its footing. It’s up 1.5% in recent weeks and, as I’m writing, we’re trading above the 34-EMA for the first time since early February. Adding further confirmation to my bullish bias, prices have broken above the down sloping trend line that had previously […]