Canadian Dollar Futures (83.99)

In my September 6th Blog Comment, I suggested the possibility that an intermediate term correction might lie ahead. The beginning of this correction is now visible on the weekly chart. It's grudging at best.

The "petro loonie" (Cdn dollar) has strong resource underpinnings that appear to outweigh the massive third-world-style corruption laid bare at the federal government level in Canada.

No end in sight for the near term corrective erosion pattern, but the long term trend remains healthy in my opinion.