Expect Volatility In USDCAD As Oil Is The Big Question
Strong volatility.
• USD/CAD has been very volatile over the past
few days. A bearish bias is still favored. Current
price action is following old downtrend. Hourly
support is located at 1.36392 (04/02/2016 low) and
hourly resistance can be found at 1.3911
(16/02/2016 high). Expected to see further
rebound.
• In the longer term, the break of the key
resistance at 1.3065 (13/03/2009 high) has
indicated increasing buying pressures, which
favours further medium-term strengthening.
Strong resistance is given at 1.4948 (21/03/2003
high). Support can be found at 1.2832
(15/10/2015 low) then 1.1731 (06/01/2015 low).
Here at Unique Forex we combine our team's 40+ years of trading experience with our proprietary algorithm to significantly enhance the trading experience. Utilizing the two, we are able to offer some of the most powerful research on an array of currency pairs. Here you will get all of our research on some of the more popular majors like the EURUSD, but if you would like to get access to the rest of our research head over to www.unique4xpro.com/research.html
If you want to join our trading team check out www.unique4xpro.com
Also follow us on all of our social media:
Twitter @unique4x
Snapchat @uniqueforex
Instagram @uniqueforex
Tune in to our daily live market insight @ 4:30 p.m. EST on Periscope and Meerkat both @unique4x
• USD/CAD has been very volatile over the past
few days. A bearish bias is still favored. Current
price action is following old downtrend. Hourly
support is located at 1.36392 (04/02/2016 low) and
hourly resistance can be found at 1.3911
(16/02/2016 high). Expected to see further
rebound.
• In the longer term, the break of the key
resistance at 1.3065 (13/03/2009 high) has
indicated increasing buying pressures, which
favours further medium-term strengthening.
Strong resistance is given at 1.4948 (21/03/2003
high). Support can be found at 1.2832
(15/10/2015 low) then 1.1731 (06/01/2015 low).
Here at Unique Forex we combine our team's 40+ years of trading experience with our proprietary algorithm to significantly enhance the trading experience. Utilizing the two, we are able to offer some of the most powerful research on an array of currency pairs. Here you will get all of our research on some of the more popular majors like the EURUSD, but if you would like to get access to the rest of our research head over to www.unique4xpro.com/research.html
If you want to join our trading team check out www.unique4xpro.com
Also follow us on all of our social media:
Twitter @unique4x
Snapchat @uniqueforex
Instagram @uniqueforex
Tune in to our daily live market insight @ 4:30 p.m. EST on Periscope and Meerkat both @unique4x