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Long

USD/CAD Short term outlook

FX:USDCAD   U.S. Dollar/Canadian Dollar
145 0 0
USD/CAD             retreated after making a high of 1.26965. Intraday trend is bullish as long as 1.2600 holds.
Hourly chart

Candlestick pattern- Shooting star (11th Feb 15:00).

Due to shooting star pattern formation USD/CAD             has declined till 1.26051. So further trend reversal can happen only below 1.2600.

Major intraday resistance is 1.2700 and break above will take the pair to 1.2795.

Intraday major support -1.2600 and break below will drag the pair till 1.2530/1.2480.

Indicators (1 hour chart)
CCI (50) - Buy
CCI (14) - Buy
Ichimoku- Buy

Recommendation: Buy USD/CAD             around 1.2640, SL 1.2599, Targets 1.2700/1.2795.
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