The USD/CAD
rallied last week towards the 1.3450 zone, but it pulls back from that area to
the 1.3300 zone as shown on the daily chart. From this level the pair may try
to bounce to the upside, since the 1.3300 could act as a support. A bullish
bounce of the USD/CAD from the 1.3300 level, may take the pair to the 1.3400
zone or the 1.3500. But if the price breaks below the 1.3300 level, then it may
drop to the 1.3200 where it may find a temporary support, because below that
level we can see the 200 day exponential moving average, blue line, around the
1.3138 level and which could act as a better support. Below the 200 day EMA,
the next important support area is the 1.3000 zone.
The election results caused a big move to the upside.
ReplyDeleteUptrend still in place.
ReplyDeleteIt's still very bullish.
ReplyDeleteThe Trump's effect is surprising!
ReplyDeleteThe market believes in his words:
"A stronger economy anywhere in the world"
The Trump factor elevated the pair.
ReplyDeleteGreat article!
ReplyDeleteGood assessment! I'll keep it in mind.
ReplyDeleteVery accurate analysis!
ReplyDeleteBullish trend continues.
ReplyDelete