June Canadian Dollar, COT Style 03/28/2010
Read our weekend analysis of the June Canadian Dollar and the FXC.
Bottom Line: While we continue to see an overall bullish trend for the June Canadian Dollar, short term we would expect choppy to down price action reaching our .9640 target. We continue to believe the Loonie will make an attempt to reach parity with the greenback and our 1.0012 target.
Our COT based Trend model remains bullish as does the Risk O Meter Series. It’s our Elliott Wave analysis that suggests the Canadian Dollar will subdivide lower to our .9640 target, before attempting to rally past the previous high of .9938 to 1.0012.
The ETF for the Canadian Dollar, FXC has a downside target of 96.24 and once we get the bounce, our upside targets are 99.32 and 100.34.
/private_t3bm member]
You must be logged in to post a comment.