FxWirePro

USD/CAD Short Term Outlook

Long
FX:USDCAD   U.S. Dollar / Canadian Dollar
0
Short term trend: Bullish
Ichimoku analysis (1 Hour chart):
Tenkan-Sen level: 1.144
Kijun-Sen level: 1.1430
Ichimoku cloud top: 1.1380
Ichimoku cloud bottom: 1.1378
USD/CAD has retreated after making a high of 1.14750 and short-term trend is bullish as long as support 1.14120 holds. On the downside break of 1.14120 will target 1.1400/1.1378 in short term.
The pair’s minor resistance is around 1.14750 and any indicative break would extend gain to 1.1500/1.1548 (1618% retracement of 1.14581/1.13120).The long term reversal only below 1.13780.
Indicators
Ichimoku (9, 26, 52, 26) - Buy
MACD (12.26.9) – Sell

Recommendation: Buy USD/CAD around 1.1430-40, SL 1.14119, Target 1.1500/1.1545.