I fully expect the CXY to continue to rally. Long term I expect it to hit 90.
There is a possibility it could make a top around 79.6, decline a few points, and then continue its rally later.
But should it break 80 without any regard for the level, I believe a target of 90 is more than feasible, and may be reached in a quick fashion.
Should this momentum continue, CAD pairs like the CADJPY, USDCAD, and GBPCAD, will continue to be dominated by Canadian momentum while their counterpart may stall on lesser momentum.
Of those, the USDCAD seems to be the most promising. Every rally on USDCAD is a sell.
-dave
There is a possibility it could make a top around 79.6, decline a few points, and then continue its rally later.
But should it break 80 without any regard for the level, I believe a target of 90 is more than feasible, and may be reached in a quick fashion.
Should this momentum continue, CAD pairs like the CADJPY, USDCAD, and GBPCAD, will continue to be dominated by Canadian momentum while their counterpart may stall on lesser momentum.
Of those, the USDCAD seems to be the most promising. Every rally on USDCAD is a sell.
-dave