USDCAD long term view is bearish, However we need to look for shorts at a higher level 1.338-1.33950
Clear break above 1.341 will invalidated this setup
USD weakness will mostly drive down this setup amongst other factors
GBPUSD had an impressive bullish rally in the preceding week
Also, cable surpassed the 20- and 40-simple moving averages (SMAs) in the daily time frame, confirming the recent upside movement
Immediate resistance is at 1.31500 which might hold as Key Resistance.
-If the index breaks above the 38.2% Fibonacci at 3277,
-The next key resistance could arrive at the 50% Fibonacci at 3310.
-Further up, the 61.8% Fibonacci at 3344 is another important level to beat as this would open the way for the 50-day MA, currently around 3365.
- Climbing above the 50-day MA would help shift the near-term bias to a bullish one.
ALCOA STOCK AT its lowest in 5 months Currently, the price is edging higher and the technical indicators are suggesting a possible upside pullback
Should the market extend gains in the very short-term, resistance could be met at the 39.50 barrier, break above would open way for 41,60