Canadian Dollar
versus US Dollar (CAD/USD): Well this certainly is
embarrassing for the US Dollar. For over 30 years the CAD
has traded below par with the US Dollar. On Friday it traded
at 1.02 US. Our charts are at:
The Sigma
Bands™ and Cyclical Decompositions charts are giving
positive signs that the Canadian Dollar is going to go
higher. But notice the Trading Signals have given a buy
signal with prices over its own +3 Sigma level. This is
usually a warning sign that prices could be too high in the
short run. So don't be surprised if there is some profit
taking in the coming days.
Australian Dollar versus Canadian Dollar (AUD/CAD):
We need to watch this pair too. Our charts are at:
Notice that the
Sigma Bands™ and Cyclical Decomposition charts are both
indicating a longer term bias to the upside in the AUD/CAD
pair. This suggests that the Aussie may strength while the
CAD weakens a bit. It may be an indication that the Aussie
may try to reach par with the Dollar while the CAD stays
around par with the Dollar. However, on a shorter term basis
the Signal Bands are indicating some profit taking between
the pair.
Until next time,
here's wishing you the best of Good-Byes!
