TheBanker
Long

Forex Market Analysis and Trading Tips 12th July 2016 - USDCAD

FX:USDCAD   U.S. Dollar/Canadian Dollar

SUMMARY:
The USDCAD             pair bounced slightly during the course of the day on Monday, using the 1.3050 level as support. At this point in time, the market is looking bullish . The primary trend of USDCAD             is bullish on charts and price is trading below its Resistance trend line in its 4 hourly chart. In its daily chart the price is sustaining above 200 day SMA that are appears on the above image indicating uptrend of the pair. It is having an important resistance at the level of 1.3141 Support at the level of 1.3050. If it breaks its resistance level on the upside and sustains above it then we can expect it to show further bullish movement in the pair.

INDICATORS:-
MACD is sustaining in its positive territory indicating the bullish trend in the pair.
RSI is sustaining in its buying zone indicating the upcoming positive trend in the pair.


STRATEGY:

USDCAD             is looking bullish on charts for next few trading session. One can go for buy on lower level strategy for this pair for intra day to mid term positions in it.



Thank you guys for all your support, I am humbled to be apart of such an amazing community - your likes and comments are appreciated, and best of luck!

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Trade active
when you lgon till fella im in this time with you for sure :P
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TheBanker fali4209
glad we're on the same page, you bad omen! hahaha
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will retracement hit 1.29000?
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TheBanker TheSmartInvestor
doesn't look that way!
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That hit the SL quickly
+1 Reply
uhhhhhhh what are you talking about
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Darup TheBanker
Well now it hit the SL twice
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JPariz Darup
lol no it didn't. my hair isn't on fire. buy my ebook now?
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hold too ..
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TheBanker LongBreak
indeed chief!
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