Peter Bain Forex Trading Commentary for Tuesday October 10, 2006
Forexmentor.com Forex Trading Price Action
A cursory look at the daily, hourly and 15 minute charts last night told me the USD/CAD pair had only one way to go, and that was UP! Not only that, but we had a nice turnaround at the London close yesterday, facilitated by positive MACD divergence and an inside candle. With commodity prices slipping, the Bank of Canada holding interest rates, and jobs being added only at the part-time level, all signs point to a weaker loonie (read, higher USD/CAD pair). You all took my advice last week, and loaded up the boat, right? Please say yes.
See today's chart at: http://www.forexmentor.com/campaign/oct1006.html
See sample AM Review at: http://www.forexmentor.com/sampler/
A cursory look at the daily, hourly and 15 minute charts last night told me the USD/CAD pair had only one way to go, and that was UP! Not only that, but we had a nice turnaround at the London close yesterday, facilitated by positive MACD divergence and an inside candle. With commodity prices slipping, the Bank of Canada holding interest rates, and jobs being added only at the part-time level, all signs point to a weaker loonie (read, higher USD/CAD pair). You all took my advice last week, and loaded up the boat, right? Please say yes.
See today's chart at: http://www.forexmentor.com/campaign/oct1006.html
See sample AM Review at: http://www.forexmentor.com/sampler/
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