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Smurf1976
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A technical analysis question for those with a bit of experience...

Would anyone care to comment on the present situation regarding the following pairs which both look to be at or near turning points...

AUD/CAD on a daily chart. I'm thinking that a rise for the AUD could be imminent just looking by how oversold the RSI in particular was recently and at past market action.

CAD/JPY on a daily or weekly chart. A truly stunning run up since the beginning of May with the RSI and stochastic looking rather overbought.

You could conclude from the above that the CAD is due for fall IMO. Now, that's linked somewhat to the commodities prices so this could be an indication for the world economy... True, the AUD is too but looking at the charts both seem a bit weak with the CAD the weaker of the two, hence the opportunity to trade one against the other.

Now, I would have posted this on a Forex forum but it's down so I thought that I would see how much knowledge there is on this sort of thing on HPC! :)

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I hope the Canadian dollar is due for a fall, but they're expected to raise interest rates soon... I think it would take a failure to increase rates or a significant fall in the US dollar to knock the Canadian dollar down much (though they also have some political scandal going on at the moment, so that might cause a temporary fall).

Edited by MarkG
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