SubscribeDaily Forex Commentary January 11, 2010
January 11, 2010
Canadian Dollar Posts Reversal Bottom on Hawkish Prime Minister Comments
Surges in natural gas, crude oil and gold helped put the Canadian Dollar in a strong position early in the trading session until Canadian Prime Minister Harper expressed his concerns
about the effects of a strong Canadian Dollar on the economy. This breaking news helped trigger a short-covering rally and formed a closing price reversal bottom. This pattern is likely to trigger a
2 to 3 day retracement to the upside.
The U.S. …
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