(Click on image above to enlarge it.)
Here's a weekly chart of the USDCAD on the Forex. Note the NMC Zero Hits beginning in June 2008, and extending into the most recent signal in late September, accompanied by an NXC Zero Hit and NMS signals supporting the trade setup that yielded a rise of almost 25% in 5 weeks.
The USDCAD has now rallied back to levels not seen since mid 2004, and has done so in less than 6 weeks. Another point worth mentioning is the year long resistance level shown by the horizontal cyan line on prices at about 1.03000. When this resistance was violated in August 2008, it led to an explosive one week thrust, and then a retest of the new support level 2 months later in late September. That retest was accompanied by an NMC/NXC Zero Hit combo, producing the explosion seen in October.
This support/resistance retest with an Ocean Zero Hit is fairly common, and often produces some spectacular moves. It's as if the "old school" support/resistance concept has been validated by the "new school" Ocean math to produce a quantifiable pinpoint location for a stellar trade setup with minimal risk.
Let's now also look individually at the US Dollar Index and the Canadian Dollar to see if they were generating commensurate setups to validate what we've seen here.
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