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Friday, September 4, 2009

Dollar / Canada can continue to rise

Posted by FOREX NEWS

Oil prices continue to fall quite active, which in combination with similar dynamics in metals prices and the negative mood in equity markets has not a positive impact on the Canadian dollar. Dollar / Canada for the last few days featured a fairly high volatility, and today the couple once again approached the recent highs of C $ 1.1090 / C $ 1.1125. Dealers report that while around C $ 1.1100 saved orders for sale, the mood on the pair remains positive and higher figures visible feet, whereas larger stop orders are above the maximum of 17 August. They note that their execution may give impetus to further growth initially to C $ 1.12, while such an event will mean the dollar / Canada from the downstream channel with highs this year and the potential for development growth in the direction of C $ 1.14 / C $ 1.15.

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