Τρίτη 8 Μαρτίου 2016

Technical Analysis USD/CAD

Still no change in our outlook and seeing the final stages of downtrend. As stated yesterday, a break of 1.33120 will open the door to our 78.6% and our long term weekly buy line signal at 1.32300. We hit 1.32600 and bounced; although not a major bounce we can probably see a retest of the lows and a challenge on the long term weekly uptrend line. There will be a lot of support around those levels so shorts should take profit. A BUY can be initiated around the 1.32300 level looking for a decent bounce from here back to the highs. If we immediately bounce higher from here, then we will look for a retest to get long.

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