reports
- Steve Lucas
SPOT USDCAD - temporary relief rally to continue
​A developing trend of higher daily lows kept Wednesday’s signals for USDCAD pointing temporarily higher. However, despite extending the trend to five and also ending a strong sequence of lower weekly highs, initial gains were modest. The bounce has stalled near the 13 day average rate, but at this stage it is too early to assume that it is over. With this in mind the outlook for Thursday remains cautiously and temporarily bullish, buying on the open and then at 1.2571, today’s opening tra...
- Steve Lucas
USDCAD - little reaction to sell-off, signals remain bearish
​Unsurprisingly after Wednesday's decline of more than 2.5 big figures, trading in USDCAD was muted yesterday. In fact price action was caught within a range of virtually 50-pips and tightly within the preceding day's parameters and with limited net movement. Despite the negative backdrop immediate signals for sentiment are therefore not strong but it is the lack of positive reaction that is expected to impact on price action. Therefore, with caution, this morning's call is a Sell but leaving ...
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