Commodity Chart - Canadian Dollar Futures: Long Term Chart
Canadian Dollar Analysis - June 29, 2006
Canadian Dollar Futures - An often overlooked market, the Canadian Dollar has made an impressive bull run an is still climbing. The market may be getting a bit over extended here and you may want to look into a short position as momentum declines. There is no clear signal to sell here, so don't get gready.
Outlook on Canadian Dollar Futures: Looking back, the Canadian Dollar had an excellent chart pattern on the monthly chart. In 2001-2002, the market broke below the low of 1998, which would signal another down leg. However, when the opposite occurs, that is a much stronger signal. The market rejected the down-leg and was the start of a new bull market. The trend usually changes at setups like this. Going forward, the market still looks strong technically but I would look for a reversal pattern to take advantage of these extreme high prices.