I have been watching the USD/CAD with good curiosity over the previous plenty of months. The Canadian buck has been near par with the USD for the ultimate plenty of months getting at shut as a result of the 1.02 take care of. As of this writing the pair is shopping for and promoting at 1.0517. The EUR/USD, GBP/USD and USD/CHF have all been hammered in opposition to the buck the last few weeks, however the CAD seems to be holding it's private. I actually really feel it's as a result of OIL has held it's assistance on the 70.00 mark per barrell. I've posted an OIL chart to "uncover" the possibility that the USD/CAD and AUD/USD may probably be lagging behind Euro and Pound. If this head and shoulders entails fruition, this might probably be the turning stage for the commodity pairs in buck rally. I discover the buck has rallied already in opposition to many alternative currencies nonetheless not the commodity pairs. After attending the Shopping for and promoting Expo in NYC, I heard some very sound elementary analyst predict a severe buck rally, giving excellent reasoning for such. I don't forecast what may happen, however, the technicals may probably be giving us a contact to what may be coming. If OIL and GOLD begin to fall as some predict, then the USD/CAD will rally and the AUD/USD will fall. I will reserve my judgement for a later date, nonetheless it seems pretty fascinating to view the possbilities. Such is the article USD/CAD Poised for a Rally?
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