Tuesday, July 31, 2007

Canada's Dollar May Decline on Elliott Wave Charts, Forecast's Ng Predicts

(Bloomberg) -- Canada's dollar may fall to C$1.0759,
according to charts based on Elliott waves, said Pak Lai Ng, a
technical analyst at Forecast Singapore Ltd.

The level represents the Canadian currency's June 21 low
versus the U.S. dollar, Ng said. The currency has risen 10.8
percent since touching this year's low of C$1.1876 on Feb. 8.


Read more at Bloomberg Currencies News

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