USD/CAD - Supported by key Average and Marabuzo line

Alan Collins 3cAnalysis

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

Sell 43%

Buy 57%

Avg Sell Price 1.3311

Avg Buy Price 1.3205

Liquidity Distribution

Author

Alan Collins

3cAnalysis

Alan has been involved in the financial markets for more than 30-years.

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