New Contract High for Canadian Dollar

Comments for Tuesday, March 6, 2010

Looking Ahead to Today by Reflecting Back at Monday’s Price Action


Higher closes Monday for the British Pound, Canadian Dollar, Euro Fx and Swiss Franc, Japanese Yen and Aussie Dollar while lower for the dollar index,. The Euro continues to be in a down-trend overall now in a good resistance while the franc continues to have a different chart pattern but falling back lately into a support area. Normally, these two currencies have the same chart pattern.

The yen settled higher also but is still in a strong down-trend overall. The Canadian Dollar settled higher this time making a new CONTRACT HIGH AND CLOSE. The pound closed higher again still forming a possible bottom while relatively close to a buy signal while the Aussie Dollar also closed higher still acting like it will test its highs. The dollar settled down but has strong support around the 8100 area and below continuing to be in an uptrend overall. BUY SIGNALS FOR THE SWISS FRANC, CANADIAN AND AUSSIE DOLLAR. SELL SIGNAL FOR THE EURO FX. CALL FOR DETAILS!

Canadian Dollar  Chart

British Pound, Chart

US Dollar Chart

Read the balance of my morning comments, including the Metals, Softs, Energies and Grains, at my website. For my complete coverage, visit my commentary page at

Rick Alexander has been a broker and analyst in the futures business for over thirty years. He is a Vice-President for Sales and Trading at the Zaner Group ( a Chicago-based futures brokerage firm. If you would like a free booklet explaining the charts mentioned above, email Rick at

The information in this Report and the opinions expressed are subject to change without notice. Neither the information nor any opinion expressed constitutes a solicitation by Rick Alexander or the Zaner Group of the purchase or sale of any futures or options. Futures and options trading is speculative in nature and involves risks. Spread trading is not necessarily less risky than outright positions. Futures and options trading is not suitable for all investors.

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