Wednesday, May 13, 2015

The USD/CAD is very close to breaking to the downside

The US Dollar versus the Canadian Dollar has kept a good support around the 200 day exponential moving average and the 1.1940 low level. On the daily chart we can see that the last candles have had lower lows and lower highs. This is an indication that the sellers are taking control of the pair. If a bearish breakout is confirmed, then all we have to do is to wait for the pullback to the 1.1940 level for a possible short entry.


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