Looks like I purchased beautifully at support/resistance point and now the pair is heading back up after rhetoric from the Bank of Canada.  A strong CAD would cripple the Canadian economy’s recovery as it is an export positive country.  We’ll see on this week’s upcoming GDP numbers to see whether there will be any indication of future interest rates increases from either side.  But for now, I am not closing out the position until I reach the intended target which is far away as I am ‘investing’ in the USD by basing my trade on the weekly charts.

Here’s the updated charts for your eyes:

USD-CAD October 25, 2009 Trade Update




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