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. …
