Shore Capital Management LLC

The C$ (basis Sept) has been rallying since March, about the same time equities and commodities began their respective rallies. The C$, as a commodity based currency will usually move in the direction of commodities.

On 7/14/09 we received a long term buy signal when the market was at 8700. On 8/6/09 we received a longer term sell signal when the market was at 9300. On 8/17/09 the market reached major support at 89.87 and then immediately rallied for the next several days. On 8/19/09 we received a short term buy signal and then on 8/20/09, we received a longer term buy signal.

The next resistance level is 92.50 to 92.79. If this level is taken out the next major resistance level is 93.30 to 94.50.

Support levels are found at 92.26 to 91.90. If the market falls below this level the next major support level is 91.50 to 90.7.