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USD/CAD close to visiting resistance - page 38

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Ari Goldman
775
Ari Goldman  

Neutral at the moment. Too hard to pick a direction.

Diana Jackson
637
Diana Jackson  

USD/CAD is within the resistance zone between 1.2470 and 1.2430. I think it is possible to see a reversal and a new drop in the next few hours to a few days.

csc2009
835
csc2009  

Usd/Cad consolidating higher near 1.25 level, break above resistance level around 1.2530/40, uptrend would continue towards 1.2650.

Diana Jackson
637
Diana Jackson  

I think the pair has finally broken out above 1.2530. If that is indeed the case the correction to the upside could last to 1.2740.

Diana Jackson
637
Diana Jackson  

It did break out above 1.2530 and I almost opened a long position before I remembered that the NFP announcement was today and I thought better of it. I'd rather see what effect the NFP will have first before I open any positions.

Diana Jackson
637
Diana Jackson  

1.2595 proved to be a too strong resistance for the correction. I think USD/CAD is falling back to the support at 1.2470 and I have already shorted.

Diana Jackson
637
Diana Jackson  
I think the pair is stil very bearish, but since the FOMC meeting minutes will be announced today that could change drastically. I closed my short and I'll wait for the news.
Diana Jackson
637
Diana Jackson  

USD/CAD rebounded from 1.2430. I already have a long position, I think it will rally to 1.2530 or even to 1.2600.

Ari Goldman
775
Ari Goldman  

Nothing major happened to the pair this last week.

Michele Manenti
583
Michele Manenti  

USDCAD FOR NEXT WEEK:

TREND: LONG

S: 1.2451 - 1.2390

R: 1.2510 - 1.2478

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