USD/CAD trades well above 200-4H MA, targets 1.3147

FX:USDCAD   U.S. Dollar/Canadian Dollar
172 0 9
Major resistance- 1.3020 (200- 4H MA).

Major support -1.3000 (4H Tenken-Sen).

Loonie has broken major resistance 1.3020 and jumped till 1.30474 yesterday. It is currently trading around 1.30375.

Short term trend is bullish as long as support 1.2980 (23.6% retracement of 1.2760 and 1.30475) holds.

Any close above 200- 4H MA confirms major trend reversal, a jump till 1.3200 is possible.

In 4H chart USD/CAD             is trading well above Tenkan-Sen and Kijun-Sen and this confirms slight bullishness. The major resistance is around 1.3066 ( 61.8% retracement of 1.32541 and 1.27638) and any break above targets 1.3100/1.3147/1.3200

On the lower side, any break below 1.3000 (4H Tenkan-Sen) and any break below will drag the pair down till 1.2940/1.2927/1.2860 ( 61.8% retracement of 1.2765 and 1.30244).

It is good to buy on dips around 1.3030 with SL around 1.2980 for the TP of 1.3080/1.31475
Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out