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Forex Market Analysis and Trading Tips 9th Feb 2016

FX:USDCAD   U.S. Dollar/Canadian Dollar


SUMMARY:

The secondary trend of USD/CAD             is bullish on charts and price is trading below the trend line in its hourly chart. In hourly chart the price is sustaining above 50 day SMA and taking support of 200 day SMA indicating uptrend of the pair. It is having an important resistance at the level of 1.3980 and support at the level of 1.3840. 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 bullish trend in the pair.

STRATEGY:

USD/CAD             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.


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piponomics
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piponomics about EURGBP 3 10 months ago
thulasi
10 months ago
i think usdcad will move up to 1.4040----1.408 area reason being its b wave (also if u note usdcad and aususd inversely co related there fore a move up of 200 ---250 pip expected,,,this align with falling oil
+1 Reply
piponomics thulasi
10 months ago
Agree it looks bullish, check my latest chart :) How did you do?
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