Friday, December 05, 2008

Forex - Canadian and Australian Dollar



Above is a chart of the Australian and Canadian Dollar. Both charts have bearish technical formations which suggest continued weakness for these two currencies.

The Australian dollar is forming a symmetrical triangle while the Canadian dollar is breaking down from its descending triangle formation. Both currencies appear to be weak in my opinion but the one to short would be the Canadian dollar because it's comparatively weaker than the Aussie dollar.

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