piponomics
Short

Forex Market Analysis And Trading Tips - USDCAD 15th Feb 2016

FX:USDCAD   U.S. Dollar/Canadian Dollar
RECOMMENDATION: SELL

SUMMARY:
The secondary trend of USD/CAD             is bearish on charts and price is trading below the trend line in its daily chart . In daily chart the price is sustaining above 200 day SMA and taking resistance of 50 day SMA indicating downtrend of the pair. It is having an important resistance at the level of 1.4100 and support at the level of 1.3640. If it breaks its support level on the downside and sustains below it then we can expect it to show further bearish movement in the pair.


INDICATORS:-

MACD is sustaining in its negative territory indicating the bearish trend in the pair.
RSI is sustaining in its selling zone indicating the upcoming bearish trend in the pair.


STRATEGY:

USD/CAD             is looking bearish on charts for next few trading session. One can go for sell on higher level strategy for this pair for intra day to mid term positions in it.


All the best and happy trading!

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