Wed Jan 19 2011 10:05 am EST (GMT -5)

Radar Signal

Currency Pair:USD/CAD
Direction: Long

Trader Comments : The USD/CAD may finally be ready to break higher after a strong close yesterday. The Bank of Canada offered dovish guidance, suggesting the CAD strength is acting as a rate hike so they may be on hold a while longer. Technically and fundamentally a bounce seems in order to above 1.0000. We are still watching the USD/CHF long Radar closely and do not want to have the boat loaded long dollar. However, the daily and intraday charts indicate a push is just getting started.

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