USD/CAD Has Re-Integrated Within Multiyear Upward Channel - SocGen
Key Quotes
“This follows a shooting star in January and denotes possibility of further down move. 1.3650/1.37 should cap immediate upside.
(Market News Provided by FXstreet)
02 Maret 2016 7:47 AM
Research Team at Societe Generale, suggests that the USD/CAD has re-integrated within multiyear upward channel and in the process it has formed a bearish engulfing last month.Key Quotes
“This follows a shooting star in January and denotes possibility of further down move. 1.3650/1.37 should cap immediate upside.
After hitting projection for up move at 1.4690, USD/CAD is undergoing a correction. It has re-integrated within a multiyear channel indicating a test of last September highs at 1.3460 with possibility to reach next support at 1.3260, 76.4% retracement since October. Short term pullback should be capped at 1.40/1.4030.”
(Market News Provided by FXstreet)
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