Wednesday, June 1, 2011


Looking at the two currencies, I think these are both primed to continue their major trends, down for the USDCAD and up for the AUDUSD. We see some strong continuation divergence (shown in yellow) off the MACD in the USDCAD while it stays contained in the 61.8% retracement shown in purple. While the AUDUSD is not quite divergence in the sense of the MACD and price heading in opposite directions, but you can see the dramatic angle between the slopes of the yellow lines, along with it bouncing off the 38.2% retracement in purple. So once again I like selling usdcad and buying audusd.

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