Canadian Dollar Technical Outlook

Published July 6th, 2009 - 05:56 GMT
Al Bawaba
Al Bawaba


The extent of the rally from 1.0782 almost assures that the entire decline from 1.3068 is complete.  Additionally, the rally from 1.0782 is unfolding as an impulse.  Eventually, a small 2nd wave correction will give way to a larger advance.  When that corrective decline occurs, I’ll look to buy the dip.