Tuesday, December 16, 2008

Canadian Dollar Technical Outlook


Weakness is expected to extend below 1.2120. A drop below 1.2120 would potentially complete wave ii of 5 (within the 5 wave rally from .9055) and give way to a strong wave iii rally that exceeds 1.30.

A deeper decline, closer to or even below 1.1459 is possible is a larger 4th wave as well.

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