CAD Overcomes Dollar Storm On Strong Economy
March 1st, 2010 admin
USD/CAD is now falling and approaching an important resistance line. This happens as the US dollar is strong, with traders focusing on the collapse of the Pound. The loonie has reasons to rise – a strong economy that is accelerating. The pair is now facing a test: The dollar is storming through the markets. This is strongly felt in GBP/USD. The Pound totally collapsed, broke through the key level of 1.50 and triggered more stop order. It stopped only at 1.4780, the last line that I mentioned in the GBP/USD forecast . Also the Euro, the Aussie and others are surrendering to the dollar. But let’s focus on one strong currency: the Canadian dollar. After failing to break the 1.04 …
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