Incredible rally on the USDCAD caused by the drop on oil. The 1.4100 may go about as a transitory obstruction, in such a case that oil continues dropping, there is no ceasing this match on its rally.
Friday was a great rally day for the Caddy. After breaking the previous day's high, we saw some sideways action before it continued its way up to finally be stopped by the sellers @ 1.3230.
It has been dropping since and buyers are now lined up @ 1.3159 and more @ 1.3138.
1.3066 & 1.3045 are showing as strong supports with huge stops just below.
Should it decide to rally before a size-able correction, I expect the sellers sitting scattered from 1.3252 to 1.3287 to be able to absorb the buying volume.
We saw a timely buy signal just before the 1.3195 level was tested. The market went on to rally & test the 1.3252 level. The day closed printing a new week/month high.
Tuesday S&R levels
The Loonie seems to be taking a breather before resuming its up move. Down move can be expected to be absorbed by buyers sitting @ 1.3180 & 1.3165. More volume seen at 1.3113 level.
On the up side, July high of 1.3288 is the target. That may not be an easy break and it may take more than a single try to go through it.
The USDCAD drops below the 1.3200 level and it could drop to the 1.3100 level, where the 55 day EMA may also act as a support. Above the 1.3200 level, its next resistance could be the 1.3289 level.
Allow the use of cookies to log in to the MQL5.com website.
Please enable the necessary setting in your browser, otherwise you will not be able to log in.
You are signed in. Two-factor authentication has been disabled. Set it up again and scan a new QR code, or continue with two-factor authentication disabled.
Levels for day starting 11/11/18
Friday was a great rally day for the Caddy. After breaking the previous day's high, we saw some sideways action before it continued its way up to finally be stopped by the sellers @ 1.3230.
It has been dropping since and buyers are now lined up @ 1.3159 and more @ 1.3138.
1.3066 & 1.3045 are showing as strong supports with huge stops just below.
Should it decide to rally before a size-able correction, I expect the sellers sitting scattered from 1.3252 to 1.3287 to be able to absorb the buying volume.
End of day
We saw a timely buy signal just before the 1.3195 level was tested. The market went on to rally & test the 1.3252 level. The day closed printing a new week/month high.
Tuesday S&R levels
The Loonie seems to be taking a breather before resuming its up move. Down move can be expected to be absorbed by buyers sitting @ 1.3180 & 1.3165. More volume seen at 1.3113 level.
On the up side, July high of 1.3288 is the target. That may not be an easy break and it may take more than a single try to go through it.