Wednesday, 12 November 2014

FOREX Technical Report on USD and CAD


Technical analysis of  US Dollar and Canadian Dollar in the forex market
Technical Chart
SUMMARY
The primary trend of USD/CAD is bullish. It is sustaining below the falling trend line & consolidating with a positive bias. 


Prices are taking support from 30 SMA & can come up to test the 200 SMA . 

Today if the pair sustains above 1.1330 we can expect it to test the level of 1.1350/1.1370.
RSI is also sustaining in buying territory supporting the further bullishness in the market.
 
USD/CAD

STRATEGY 

For Today, USD/CAD is looking strong on chart. 

We can expect upside movement for few upcoming session. 

One can go for buy on dip strategy for this pair for intra day to mid term positions.