Comment by Peter jcp on November 17, 2012 at 10:36pm

Hi Mark - this will be interesting next week. After seeing your technical analysis which I liked - as you have combined several methods indicating the same scenario  - ie a sell - I then in the last few minutes check my own UCad set up - and have been surprised.

Normally when you have a pair come to a high in an up channel - along with negative divergence I expect to see an OB situation on my bollinger bands linears and RSI settings ( I will admit all of them non standard settings). However my set up in fairly normal - basically allowing either direction still - yes enough to break up through resistance and the up channel ?

The fundamentals are also mixed with many seeing a dollar bullish week - whilst others looking at more buys on EU / GU and AU .

The Cad is not one I normally trade and being more shorter term would not commit too any swing direction until I see clear movements taking out S or R on the smaller frames.

Anyway good luck with it and I wish you a great week

Regards

Peter 

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