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FxWirePro
Dec 4, 2014 10:41 AM

We prefer to go long in USD/CAD  Long

U.S. Dollar/Canadian DollarFXCM

Description

Short term trend: Bullish
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 1.1378
Kijun-Sen level: 1.1385
Ichimoku cloud top: 1.1309
Ichimoku cloud bottom: 1.1290

USD/CAD retreated after making high of 1.14580 and overall trend is bullish as long as support 1.13120 holds. On the downside break of 1.13120 will target 1.1280/1.1250.
The pair’s minor resistance is around 1.1370 and any break of would extend gain to 1.14655/1.1531 in the short term.

Recommendation: Buy USD/CAD around 1.1360, SL 1.1309, Target 1.1531.
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