Short term trend: Bullish
Ichimoku analysis (1 Hour chart):
Tenkan-Sen level: 1.1339
Kijun-Sen level: 1.1294
Ichimoku cloud top: 1.1256
Ichimoku cloud bottom: 1.1271
USD/CAD has recovered after making a low of 1.12340. Overall trend is bullish as long as 1.1290 (Kijun-Sen) holds.
The pair’s minor support is around 1.1320 and any indicative break will target 1.1290/1.1250. The USD/CAD is facing major resistance around 1.1370 and breaking above will take the pair to 1.1400.
Indicators
Ichimoku (9, 26, 52, 26) - Buy
MACD (12.26.9) – Sell
Recommendation: Buy USD/CAD around 1.1320, SL 1.1290, Target 1.1370/1.1400.
Ichimoku analysis (1 Hour chart):
Tenkan-Sen level: 1.1339
Kijun-Sen level: 1.1294
Ichimoku cloud top: 1.1256
Ichimoku cloud bottom: 1.1271
USD/CAD has recovered after making a low of 1.12340. Overall trend is bullish as long as 1.1290 (Kijun-Sen) holds.
The pair’s minor support is around 1.1320 and any indicative break will target 1.1290/1.1250. The USD/CAD is facing major resistance around 1.1370 and breaking above will take the pair to 1.1400.
Indicators
Ichimoku (9, 26, 52, 26) - Buy
MACD (12.26.9) – Sell
Recommendation: Buy USD/CAD around 1.1320, SL 1.1290, Target 1.1370/1.1400.