DAILY SPOT USDCAD - Wednesday's trade idea and technicals
Bullish signals on the week and for Tuesday have been confirmed, investors buying the market yesterday to post a 2nd higher daily low & high in a row and a gain of almost ¾ Big Fig. Prices are trading above their key daily average rates which is positive, but they are testing 8 week highs. However, with no sign yet that demand is ending the outlook for Wednesday remains bullish and the call is to buy on the open and then at 1.3353, today’s Asia low with a stop loss at 1.3326, Tuesday’s Marabuzo line. Targets are to 1.3390, the 8 week top, 1.3420 and 1.3506, the last 9 week Marabuzo line.
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