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Candollar & Gold

canadian flagJuly 5, 2020:  Breakout and all-time high!

Because of its commodities and energy reserves, I expect Canada to become the 2nd richest country in the world...Canada has its problems but on a relative basis, it is coming through the crisis in healthier shape than the USA. The Canadian economy is diversified.  They mine important commodities and the banking sector is less dangerous (see the chart of the Imperial Bank of Commerce in section Banks). Bear in mind that over the past year the FINANCIAL situation of Canada has been DEGRADING(May 2018).

Recently, the country lost its AAA rating!

According to research by SocGen, by 2040 Canada will be the only G7 country with investment-grade sovereign debt. By as early as 2030 the US, France, Italy, and Japan will all lose investment-grade status.  To put this into perspective this means that in less than two decades the debt of countries currently representing approximately 50% of global GDP will be ineligible for investment by the smallest municipal pension fund. 

CanDollar Gold
  [Most Recent Quotes from www.kitco.com] Bullish Objective c$ 3,200 - 3,800
Resistance c$ 3450
Support c$ 1880
Bearish Objective c$ 1580
Technical pattern  Historic top after Historic Top

 

canGold pf3
short term candle
Chart comment
CanGold candle1
  • Jan 6 - 20, 2016: BREAKOUT and  fresh bull run
  • Dec 21: a SCREAMING BUY
  • Jan 5 - Feb 2, 2017: BUY
  • July 7 - Aug 30: Back on the support line = BUY
  • Nov 9 - Mar 8, 2018: a SCREAMING BUY it is.
  • May 3-29: target after a breakout is Can$ 2,580
  • Dec 7 - Feb 8, 2019: Breaking the 200 days MA = very Bullish!
  • March 9 - May 18: expect a BREAKOUT and ALL-TIME HIGH shortly.
  • July 5: a breakout on the PF chart & a bullish flag on the short candle.
  • Aug 6: ALL-TIME HIGH and still bullish.
  • Sep 4 - Oct 3: bull run
  • Nov 8: plausible end of the correction - support of 2011/12 top
  • Jan 3 - April 10, 2020: and beginning of a new bull run
  • May 10: Time for a consolidation? small correction?
  • June 4 - July 5: a small correction we have - use to initiate & add to your positions.
long term candle
CanGold candle2


Canadian Dollar versus the US dollar.

The Canadian dollar is a commodity currency but is destroyed by the IDIOT leadership of Trudeau who sold ALL the Canadian Gold! Time to get out...

Canadian Dollar/USDollar
Bullish Objective $1.02
Resistance $0.78
Support $0.69
Bearish Objective $0.62
Technical Pattern Critical

CDW pf1
Short term candle Chart comment 
CDW candle1

Canadians have taken advantage of the Currency War to knock down the Can-Dollar as far as possible and improve their export position towards the USA.

  • Jan 7, 2016: Parabolic SELL-OFF versus the US-Dollar = BUY
  • Nov 21: Trading zone is probably also BOTTOM.
  • Jan 5, 2017: BOTTOM
  • Sep 12 - Oct 9 - Nov 6 - Dec 21: Sideward accumulation!
  • Jan 5 - Apr 24, 2018: but getting stronger versus the US-Dollar it is.
  • Sep 10 - Oct 9 - Nov 7: Long Term Support HOLDS!?
  • Dec 7 - March 9, 2019: CRITICAL - NO Breakdown
  • April 8 - May 18: Sideward
  • July 5 - Aug 6 - Oct 4: bouncing UP the 200 days MA
  • Nov 9 - Jan 3, 2020: Sideward
  • Feb 5 - March 10: Oversold and Support.
  • March 25: STOP LOSS !!
  • April 10 - May 10: or Bear Trap?
  • June 4 - July 5: sideward (Canada lost AAA rating)
Long term candle
CDW candle2


Euro versus Canadian Dollar

Canadian Dollar/Euro
Technical Objective 1.68
Resistance 1.62
Support 1.48
Bearish Objective 1.25
Technical Pattern Bullish Euro

eCDW pf1
Short Candle chart
Chart comment
EURCAD candle1

Interesting is that there is a correlation between the exchange rate of the Loonie and the price of Gold.

  • Jan 7, 2016: BUY
  • Jan 5 - Feb 2, 2017: still bullish
  • July 7 - Aug 30: BUY - a well-defined BOTTOM
  • Jan 5 - Apr 24, 2018: but weaker than the Euro it is.
  • Sep 10 - Oct 9 - Nov 7: Bearish Triangle for the Euro.
  • Dec 7 - June 5, 2019: Bouncing up the 200-day Moving Average and UP
  • July 5: this is a BREAKDOWN! (Euro to weaken vs the Can-Dollar)
  • Aug 6: KEY REVERSAL....is this a Bear Trap? to be continued
  • Sep 4: Euro is critical!
  • Oct 4: but support holds!
  • Nov 9 - Jan 3, 2020: Sideward
  • Feb 5 - March 10: Oversold and support.
  • March 25 - May 10: Sideward...critical.
  • June 3 - July 5: the Euro is bullish versus the Can-Dollar.
Long Candle chart
EURCAD candle2

candollar2014

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