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.
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.