Dynamic Trader Forex Blog FXCPS.co.uk: CAD-y-shack

Good Evening / Morning Dynamic Traders

"Better to have tried and failed, than not tried at all"

Cross = CAD : Day Chart (Posted Below)

For trend refer to http://www.dynamictraderblog.com/

Hope you all had a great weekend and welcome to another short week with Easter upon us at the week end. Summer next and then it will not be long before Xmas ! Where does the time go ?

You will see from above I have chosen the CAD for this week, which on the day chart has been playing with the resistance line since 05/12/08. We are currently back again to our support level with VI and a RN below us.

I am interested to see if this chart will full fill its threat of giving us a "W" chart pattern and if so we could be looking for a target around 1.3200 after measuring the neckline.

Stochastic s have hesitated at their present position, but plenty of room to move - up , RSI is in bullish move too.

We have, where indicated, Convergence on the daily chart and an upward movement has already started.

Please do your own analysis before you place a trade, use a stop loss and check the news.