Posted on May 22, 2009 at 1:58 in Uncategorized by Ross YamashitaNo Comments »

Hello.

EUR/CAD

Looking at the EUR/CAD 5 minute chart, we see that we have a movement up and am currently in an apparent retracement down.

We have drawn in our trend lines - look for the currency pair to test the bottom trend line and then turn to the upside.

If the pair closes and breaks away from the upper trend line, the next resistance will be at the high of 1.5848. If it closes above that and breaks away, then look for a continued movement up.

For those in the US, we want to wish everyone a happy and safe Memorial Day weekend. Let’s all enjoy the day off and spend it with our loved ones.

Good luck.