USDCAD - Bearish & Sell 1.3105 Rally. Stop 1.3137
|Tuesday’s report highlighted underlying positive sentiment but a lack of a buy signal. That proved justified as our Buy at 1.3073 was virtually the low of the day. USDCAD still found further selling at the end of the day in a move that took prices to test the 13 day line. That important point was only marginally breached but, despite minor gains in Asia, is enough to leave our intraday technical studies mildly negative. So this morning’s call is a Cautious Sell in the 1.3075/80 area but leaving room to also Sell at 1.3105. The risk is yesterday's 1.3137 top with downside objectives at 1.3040, Friday’s low, 1.3020 and 1.3000, last Thursday’s base.
Negative Break
Strong Decline
GBPUSD Current Trading Positions
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.