USDCAD - We Look to Sell at 1.3010

USDCAD - We Look to Sell at 1.3010

6 June 2016, 09:56
Roberto Jacobs

USDCAD - We look to Sell at 1.3010 (stop at 1.3050)

USDCAD - Continued downward momentum from 1.3144 resulted in the pair posting net daily losses yesterday. The AB=CD formation target is located at 1.2870. For the last 12 days trading has been broadly confined to the daily Ichimoku Cloud.

Expect trading to remain mixed and volatile. Buying posted in Asia. As this corrective sequence continues we look to set shorts on a rally at better risk/reward levels. Our profit targets will be 1.2870 and 1.2850.



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