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US Dollar vs Canadian Dollar

USD/CAD

Update 01/07/2015

The T2 target for the ‘E’ category long trade was 12530. This target was hit today and exceeded. Good solid trade and now flat on this pair until a signal for the next move – a short ‘F’ category transaction for the move down into the 80 day low due late this month.

Update 23/06/2015

While USDJPY is a little hard to analyse at the moment a Hurst trader can turn to some of the other crosses to provide some commonality. One such cross is USD/CAD which, as far as I can phase it, is showing good cyclic moves. Here is the long term outlook with a large trough due early 2016, possibly 54 month:

USDCAD_£__daily_23_06_2015

This phasing indicates a recent low as a 40 week cycle. It is most definitely a trough of at least 80 day magnitude anyway so onward to a closer look:USDCAD_£__daily_23_06_2015_stPrice has moved out of what is most probably a 40 day low, moved past the 20 day FLD in an ‘E’ category interaction and provided a T2 target to the upside of around 12470. I will confirm that target when the median price cross is calculated in the next few days. I am long and this should be a good breakout trade from the line of highs put in over the last couple of weeks. A near miss of this T2 will be telling for the underlying trend and future progress of the US Dollar into that long term trough due early 2016.

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