Wednesday, December 03, 2008

Forex - Potential Trade In The Canadian Dollar



I'm watching the Canadian Dollar here as I see a potential trade setting up on the short side. There appears to be a descending triangle formation developing on the daily chart and a move below last month's low would be quite bearish for this currency in my opinion. Whether or not the Canadian Dollar is able to break last month's low remains to be seen but for now this currency will be on my watch list.

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