USD/CAD - Supported by key Average and Marabuzo line
|Friday’s downside failure at a daily Marabuzo line left the immediate outlook for this week unclear. That situation has yet to be clearly resolved but Friday’s net losses were regained after buyers were again seen near that Marabuzo line (Dec 5th) and the 13 day mvg avg. Until/unless last week's top is breached signals for sentiment cannot be strong but a close near the highs ensures that our technical studies have a positive bias. So, this morning’s call is Bullish from the open but leaving room to also buy a 1.3363 dip, yesterday's Marabuzo line. The risk is 1.3328, this week's open, with upside targets of 1.3427, 1.3445, last week's top, or even 1.3483.
Average/Marabuzo Line Support
Lows Not Held
USDCAD Current Trading Positions
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