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.