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20 Nov 2014
USD/CAD poised to test 1.14 - 2ndSkies
FXStreet (Bali) - According to Chris Capre, Founder at 2ndSkies Forex, USD/CAD is looking to test ST resistance at 1.14 ahead of 1.1450.
Key Quotes
"A few days ago in our members trade setups commentary, we recommended buying off the corrective channel bottom on the USDCAD, which held the 1.1260 lows before bouncing higher over the last two days."
"The pair is now +90 pips since the 1.1260 print, so anyone trading it would be up a solid profit now. Also notice how the pair printed two pin bars off the channel lows."
"The pair is looking to test ST resistance at 1.14, but above here the yearly highs at 1.1450 are up next. Only a daily close below 1.1250 gives the bears control medium term."
Key Quotes
"A few days ago in our members trade setups commentary, we recommended buying off the corrective channel bottom on the USDCAD, which held the 1.1260 lows before bouncing higher over the last two days."
"The pair is now +90 pips since the 1.1260 print, so anyone trading it would be up a solid profit now. Also notice how the pair printed two pin bars off the channel lows."
"The pair is looking to test ST resistance at 1.14, but above here the yearly highs at 1.1450 are up next. Only a daily close below 1.1250 gives the bears control medium term."