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USDCAD is moving to the next short term cycle top

Tue, Sep 30 2008, 01:45 GMT
by Franco Shao

ForexCycle.com


USDCAD is moving to the next short term cycle top on 4-hour chart. Further rise towards 1.0560 is still possible later today. However, the rise from 1.0297 is treated as correction to the down trend. Pullback to retest 1.0297 level could be seen in a couple of days, and a break below this level will signal deeper decline to 1.0200 zone.


USDCAD 4H Chart


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