EURCAD Long

1 Eyl 2012

You can sort of make out a head and shoulder pattern developing since mid july. I would buy any point under 1.2400. Stop Loss at 1.2357. Short term Target is 1.2470. Longer term target 1.27 (2 months). Of course, if Resistance breaks at 11.2358 then expect EURCAD to fluctuate between 1.22-1.23 until better news comes out of Europe.