The support of the 13 day mvg avg has dominated this week trading. But it has yet to translate into significant upside. Yesterday was the 2nd trading day in a row that demand was not strong enough to break above the 100 day mvg avg and 1.3200, with Thursday’s trading resulting in minimal net movement for USDCAD.  This price action does not create strong signals for sentiment going into the last day of the week but gradually higher lows since Tuesday mean our call for this morning is a Buy from 7am  but leaving room to also Buy any Dip to 1.3167, Asian low. The risk is 1.3135, Wednesday’s bottom, with an immediate target of 1.3209, last week's top. A move through that point then exposes sentiment to 1.3232, the top of the daily Keltner channel, and  1.3261, the 4 week Marabuzo line.

 

Average Supports

USDCAD

 

USD/CAD Current Trading Positions

Sell 58%
Buy 42%
100.0%58.0%0556065707580859095100
Avg Sell Price 1.3147
Avg Buy Price 1.3127
Liquidity Distribution
1.29391.31331.3385SellBuy

 

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