Canadian Dollar


The Canadian Dollar has been drifting lower for the past 5 years.  After a brief rally in 2016, the bear market has returned.  The next support level is 7251.  A weekly close below 7251 opens the door to 6809.  The Canadian economy is struggling with fairly weak demand for natural resources along with a housing bubble.  This is a recipe for lower prices.  This bear market could easily continue for the next few years.   

Author: reiterdave

Dave Reiter is a proprietary trader of stocks & commodities. Dave’s trading career began in 1989. He is the managing member of Reiter Capital Investments LLC, a prop trading firm located in Muenster, TX. Dave has a passion for teaching others how to become successful traders. He is one of the few people in the financial publishing industry who trades real-time with real money. Dave releases all of his personal trades on a daily basis through his investment newsletter. Dave’s website is His Twitter address is @TradesByDave.

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