USD/CAD Hits Triangle Bottom

FX Path 2010-07-30 19:30:02
Channel: Forex news Source: MoneyTec 2.0 - Online Forex Traders & Brokers Social Networking Community - Technical Analysis
Tags: analysis , technical

USD/CAD (a daily chart of which is shown) as of Friday (7/30/2010) has once again hit the bottom of a large triangle consolidation pattern after having traded just below key 1.0400 resistance for the entire week. This large triangle occurs within the context of a prolonged sideways trading range consolidation that has been in place since late 2009. For more USD/CAD technical analysis, please click here.

James Chen, CTA, CMT

back to channel more

Last news ( Forex news )

National bank announces 2.8 bln euros capital increase

Greece's largest lender National Bank announced a 2.8 capital increase on Tuesday to better deal with the economic crisis and ...

UPDATE 1-US Justice Dept probing Google/ITA deal - sources

The U.S. Justice Department is looking into allegations that Google Inc's purchase of airline ticketing firm ITA Software Inc will ...

Ranging or Trending

Student's Question:If we are looking at the chart, surely it's nothing too difficult to identify whether the market is in ...

Euro Re-couples with Risk as Banking Concerns Drive Broader Markets

The EUR/USD sunk nearly 200 pips overnight as concerns that European banks are at risk as they hold more potential ...

UPDATE 2-Ireland extends bank guarantee; spot 'manageable'

Ireland on Tuesday extended its guarantee for short-term bank liabilities, including corporate and interbank deposits, as expected as the government ...