EURCAD flows north!

Good evening ladies and gentlemen

I hope you all had a wonderful 2 days in the market. I was unable to do an update yesterday due to prior arrangements.

This week I thought I would concentrate on the EURCAD. It's been on my watch list since last week and since yesterday has managed to shoot up a whopping 400 pips. I hope you all managed to get some of the spoils on offer!?! If not, do not worry as there are and always will be other opportunities!

On the daily, the bulls have out muscled the bears since Septemeber 2007 but price currently is in an oscillation. However yesterday's bar shot through the VI like it wasn't there, found comfort around the RN, which today's bar used as a support to carry on its journey north.

Below I have the 4 hour chart which shows the action in much more detail. We can see that price was forced into a squeeze, which then had no choice but to burst the banks and start its ascent! Price has now found some comfort around a RN of sorts. It will be intersting to see what happens over the next few days. Could we see further move upwards or could we see some consolidation taking place? RSI and Stochastics are both well OB!!



Let me leave with you this thought? " Are you feeling inspired?"

Till tomorrow

Abundance is your Birth Right

Zaheer Anwari