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The Canadian Dollar is about to Breakout with a Fury!
The Canadian dollar has been coiling up for months on end now. It’s happening on USD/CAD and it’s happening on a currency cross like CAD/JPY.
Right now, I’ve got my Currency Cross Trader subscribers in CAD/JPY because the cross will typically outpace the dollar pair equivalent. Check out the two charts below. USD/CAD is on the left and CAD/JPY is on the right. Click on the charts to enlarge them.
Additionally, I picked CAD/JPY because this triangle also appears to be breaking a multi-month downtrend line too.
On top of that, the yen has been weakening lately as the Nikkei stock index continues to recover. So there are several good reasons why we’re in that trade.
So far, my subscribers are up about 40 pips on this trade and it hasn’t even gotten started good yet. It’s got a lot of room still to go. By the time this pair has solidly broken out, we’ll be up 100-150 pips by then.
Get ready for this breakout. It’s going to be huge!
Sean Hyman
My E-Book
info@worldcurrencywatch.com
Editor, Currency Cross Trader
Other Posts from the Author
- What's happening in Greece could happen in America if we're not careful! - February 15th, 2012
- Oil Heads Higher as Super Tankers Stop Shipping Iranian Oil! - February 14th, 2012
- Revisiting the Iraqi Dinar Issue Again... - February 13th, 2012
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