SPOT USDCAD - temporary recovery underway
Although our first downside target was met yesterday the market was unable to extend Monday’s losses to any great degree. Instead minor gains kept USDCAD consolidating after 4 consecutive down weeks with the day ending with increasing demand. Prices are still well below the key 13 day line but our studies suggest the profit taking bounce is incomplete. So, our call for this morning is a Buy from 7am but leaving room to also Buy any Dip to 1.2137. The risk is 1.2110, yesterday's open, with an immediate target of 1.2190, yesterday's high. A move through that point then exposes sentiment to 1.2214 and 1.2242, Thursday’s top.
3cAnalysis – live analysis that improves trading performance. Our analysis is highly respected by major Institutions throughout the UK and Europe. We set the standards for high end, live, independent technical analysis research across 3 asset classes and 3 time frames and with exceptional directional success over more than 9 years.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.