Canadian Dollar Looking Down
Each evening we focus on the most interesting aspects for the upcoming trading day. The comments are based on observations of the nightly updates of the Futures and Market Bias pages. They are provided for educational purposes only and are not intended to be direct trading advice. Also, keep in mind that these remarks are made up to 12 hours in advance of the markets opening. Therefore, overnight events may alter the outcome of these observations.
The September Canadian Dollar [CDU9>CDU9], on the Pullbacks From Lows List, appears poised to resume its downtrend. Look for a shorting opportunity here.
Source: Omega Research.
For you breakout players, the September Dmark [DMU9>DMU9] and Swiss Franc [SFU9>SFU9], on the Momentum 5 List, formed inside days today and closed well. Look for a buying opportunities here as they both are in fast moves.
September Copper [HGU9>HGU9] appears to be rallying out of a big picture pullback (note: this is more evident in the weekly chart). Look for a buying opportunity here.
Best of luck with your trading on Monday!
Dave Landry
PS-Reminder: Protective stops on every trade!