08/20/2014 – Canadian Dollar

Issued: 08/19/2014

September Canadian dollar:

1. The previous top in the September Canadian dollar was made on Aug. 15 and occurred one trading day late. The Canadian dollar was unable to reach important price levels on the upside, including $92.07 (Aug. 15 swing high, $92.02).

2. Therefore, the market is now in a weaker position which may indicate substantially lower prices coming ($90.88, or lower), especially upon any daily close below $91.44 (current price $91.57).

3. Therefore, $91.68/$76 is now short selling territory if touched and closed below on hourly or daily. Initial down side profit target is $91.55. The remaining position should be held for lower prices to be messaged in a subsequent update.

4. An initial protective buy stop should be placed at $91.81. This stop will be moved lower as the market continues to confirm. An alternate short entry will be messaged if the above does not confirm.

David Williams

Issued: 08/21/2014

September Canadian dollar:

1. With prices at/near $91.57, our previous (Tuesday, Aug. 19) September Canadian dollar report indicated that the market was in a weak position which indicated lower prices, including a test/attempt at $90.88 (or lower), especially upon a daily close below $91.44.

2. The report indicated new short entry between $91.68/$76. The market subsequently was unable to reach these levels prior to declining lower.

3.. Today’s session attempted the $90.88 downside target (session low, $90.96, so far) and may represent completion of the roadmap. Will message any further entry or indication in the September Canadian dollar.

David Williams