Bias: Flat
Showing posts with label Canadian Dollar. Show all posts
Showing posts with label Canadian Dollar. Show all posts
Monday, February 15, 2010
Elliott Wave Bias - USD/CAD
The USDCAD is toying with me. Having been convinced that an expanded flat was complete, I was proved wrong when the pair dropped below 10540. However, I maintain a longer term bullish bias against 10223. Support should be strong at 10415, which is former resistance and the 61.8% retracement. It is also possible that the USDCAD will not make it to that level as the pair has found support at the former 4th wave zone. Long term traders can establish longs against the January low but short term traders should await clarification of the near term picture.
Sunday, February 14, 2010
USD/CAD - Long Term Forex Market Analysis
USDCAD dropped sharply from 1.0779, taking price back to range trading between 1.0206 and 1.0852. A cycle top has been formed at 1.0779 level on 4-hour chart. Deeper decline to 1.0300-1.0350 is expected in a couple of weeks.
For long term analysis, USDCAD had formed a cycle bottom at 1.0206 level on weekly chart. Range trading between 1.0206 and 1.0852 would more likely be seen in next several weeks.
For long term analysis, USDCAD had formed a cycle bottom at 1.0206 level on weekly chart. Range trading between 1.0206 and 1.0852 would more likely be seen in next several weeks.
Friday, February 12, 2010
North American-built passenger cars drive new vehicle sales increase in December
OTTAWA — New motor vehicle sales increased 2.6 per cent to 128,663 in December, largely on the strength of higher sales of North American-built passenger cars.
Statistics Canada reports monthly sales averaged around 124,000 units in 2009, down from 2008's monthly average of about 140,000. The agency says preliminary industry data indicate the January figures were relatively unchanged.
The number of new passenger cars sold in December increased 2.5 per cent to 64,568, while sales of North American-built passenger cars rose 5.1 per cent.
The number of overseas-built passenger cars sold fell one per cent.
Sales of new trucks (which include minivans, sport-utility vehicles, light and heavy trucks, vans and buses) increased 2.7 per cent to 64,095 in December, partially offsetting November's decrease.
The number of new motor vehicles sold increased in nine provinces in December after declining in every province in November.
The largest contribution to the increase came from Quebec (up 2.7 per cent).
The only decline in December was registered in the region composed of British Columbia and the territories (down 1.9 per cent), where sales increased in nine of 12 months in 2009.
Statistics Canada reports monthly sales averaged around 124,000 units in 2009, down from 2008's monthly average of about 140,000. The agency says preliminary industry data indicate the January figures were relatively unchanged.
The number of new passenger cars sold in December increased 2.5 per cent to 64,568, while sales of North American-built passenger cars rose 5.1 per cent.
The number of overseas-built passenger cars sold fell one per cent.
Sales of new trucks (which include minivans, sport-utility vehicles, light and heavy trucks, vans and buses) increased 2.7 per cent to 64,095 in December, partially offsetting November's decrease.
The number of new motor vehicles sold increased in nine provinces in December after declining in every province in November.
The largest contribution to the increase came from Quebec (up 2.7 per cent).
The only decline in December was registered in the region composed of British Columbia and the territories (down 1.9 per cent), where sales increased in nine of 12 months in 2009.
Copyright © 2010 The Canadian Press. All rights reserved.
Subscribe to:
Posts (Atom)
