THE LOONIE WATCHER (Copyright 2006)

THE LOONIE WATCHERS COMMENTARY FOR FEBRUARY 23, 2006












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THE LOONIE WATCHER’S COMMENTARY FOR FEBRUARY 23, 2006
















THE LOONIE WATCHER’S COMMENTARY FOR FEBRUARY 23, 2006

The market close on February 23, 2006, showed that the market conditions influencing the Loonie and the $USD have changed since our last commentary (Feb 17, 2006)

THE LOONIE

The selling pressure has disappeared for now. Today’s price action indicates that the commercials are comfortable with the Loonie. Smart money is now buying the Loonie. The momentum is to the upside at this time.

Look for continued buying pressure on the Loonie for the time being!

 

THE $USD

The $USD is showing continued strength as of the close today! The commercials are still afraid to sell the $USD.

The speculative buyers may have fallen for a bull trap, and will be quick to exit if selling begins to test this market!

Only time will tell if the bulls are trapped.

The short term outlook is a probable trading range until a tradable direction materializes.

 

SUMMARY

Crude Oil’s returning strength will keep the pressure on the currencies, as the institutions watch the effect on the various nation’s current account’s. Canada’s economy is more insulated from the oil price shocks, so any effect will have a smaller impact on the Loonie!

 

 

Wayne N. Krautkramer onlypill@cox.net

https://onlypill.tripod.com/thelooniewatchercopyright2006bypitagorasinternacionalsa

 

Pitagoras Internacional SA will not be liable for any liability, loss or damage directly or indirectly caused, or believed to be caused, by THE LOONIE WATCHER (copyright 2006)

 

 

 
















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