Canadian “commodity” currency 2008 deja vu

Updating our ongoing chart study of the loonie, the C$ achieved our downside intermediate target this week, as indicated below. As highlighted by my partner, and Technician, Cory Venable, the C$ is so far exhibiting an eerie similarity to its price movements in October 2008. While we could see a period of short-term rally here back to the .97 range, a breakdown from there could prove quite foreboding for the global growth story.

This entry was posted in Main Page. Bookmark the permalink.

Leave a Reply

Your email address will not be published.