(Bloomberg) -- The Canadian dollar may strengthen to
1.04 against the U.S. currency after reaching a 30-year high on
May 18, said Kevin Edgeley, a technical analyst at Goldman Sachs
Group Inc., citing charts that predict price movements.
The 1.04 level is the Canadian dollar's resistance on an
Elliott Wave that began in 1975, Edgeley wrote. Elliott Wave
Theory, created by Ralph Elliott in 1938, tries to predict future
price movements in a security by dividing past movements into
waves and calculating changes in value.
Read more at Bloomberg Currencies News
1.04 against the U.S. currency after reaching a 30-year high on
May 18, said Kevin Edgeley, a technical analyst at Goldman Sachs
Group Inc., citing charts that predict price movements.
The 1.04 level is the Canadian dollar's resistance on an
Elliott Wave that began in 1975, Edgeley wrote. Elliott Wave
Theory, created by Ralph Elliott in 1938, tries to predict future
price movements in a security by dividing past movements into
waves and calculating changes in value.
Read more at Bloomberg Currencies News
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