USDCAD

Still no go on charts as normal - links will have to do until further notice. Don't forget to toggle /zoom to see charts clearly. On the 54month Cyclic Phasing Chart, we appear to be in the 2nd 80week cycle. We appear to have had a 'A' and 'B' leg since the bottom in July 2011 and we are in 'C' or something else of course. Of note is how the price action since the 'B' bottom, has been skirting the lower channel line of the Pitchfork. The weekly momentum cluster is facing uphill and has been coiling of late. Is this overbought then or not? Are we at the beginning of a wave 3 thrust after a series of 1-2's? The median line sits at 1.600-1.700, which is some target! Well that depends on what happens next. The 80week chart shows price in the 3rd 100day cycle of the 2nd 80 week cycle and with a couple of weeks to go until a 50 day low is due and not until the 25th September is the 100 day low due. So no reason to expect downhill targets. On the working chart, we have had a retracement in the past week and a quick move uphill has all 5 trend bars positive again. Perhaps we have only had 'a' of that retracement and therefore we are only in 'b' uphill for the moment. But betting against that 5bar bull set up is not for me, especially whilst price is above the range channel median and even more so, given the sitting position of the large pitchfork from the first chart. So, I am long and waiting for the break of the small pitchfork on the working chart. If it takes out the 1.0555 top, hang on to your hats!!