Canadian Dollar Technical Outlook

Published July 24th, 2008 - 06:16 GMT
Al Bawaba
Al Bawaba

Wave E may be complete.



The USDCAD has formed a base from the 7/15 low and a bullish bias is warranted against .9818.  This is to prepare for the breakout above 1.0378 that is expected in the coming weeks.

STRATEGY: Bullish, against .9818, target above 1.0378