USD/CAD breaks above 100-DMA, good to buy on dips

FX:USDCAD   U.S. Dollar / Canadian Dollar
215 0 7
USD/CAD             jumped to a high of 1.3090 on Friday before trimming gains to end the day at 1.3036 levels.

The pair has broken major resistance at 1.3000 ( 100-DMA             ), scope for further gains on charts.

Oil             edges lower on the day, ignores bullish comments from Saudi oil             minister, keeps CAD subdued.

Momentum studies for the pair are bullish . 1.3090 (Friday’s high), above which the pair could target 1.3107 (June 28 high), 1.3121 (June 27 high) and then 1.3189 (May 24 high).

Weakness only on break below 1.2986 (23.6% Fib of Jan to May fall), test of 1.2931 ( 50-DMA             ) then likely.

US and Canada data docket is empty today, focus on overall sentiment across markets and the oil             price movements.

Good to buy dips around 1.3020/30, SL: 1.2985, TP: 1.3090/ 1.31/ 1.3120/ 1.3190
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out