darryl11

UC running into support - closes on the 100day

FX:USDCAD   U.S. Dollar / Canadian Dollar
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2
UC closed tonight a fraction below its 13 day at 1.2979 & 100 day MA at 1.2981. Probably not far enough below it yet to signal a stronger down move, but move lower runs into the lower trend line , and the 34 & 50 day MA'sbtwn 1.2925-1.2944. Breaks below these levels airdrops back to recent lows 1.2850.
Upside resistance the shorter timeframe Ma's at 1.3020-1.3030
Comment: target hit perfectly this morning to 1.2925, this has been a big level since May so need to see a close below to green light lower to 1.28. trend line is broken tho and macd confirming so expecting sling shot lower.
Comment: UC hit 1.2868 which whilst not quite 1.2850 target, see this mornings action as friday profit taking and expect downtrend to resume. if we can breach the 1.2850 then favour a slingshot lower to 1.2675

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