-
USD/CAD - First signs of a potential short-term reversal
• USD/CAD completed a bullish engulfing pattern on 17 August. It suggests a potential short-term return of demand for USD Dollars, especially as USD/CAD is now close to its strong support at 0.9800 and is deeply oversold. • Given the long-term horizontal trend, we see the current weakness near the 27 April low as a good opportunity to initiate a long USD position. • EUR/USD saw a minor break under daily channel support last week that failed to garner momentum. We would thus view a push back over 1.2444 as being a short-term bullish signal and have hence moved our stop to rest just above the recent high at ... (full story)
- Comments
- Comment
- Subscribe
- Comment #1
- Quote
- Aug 20, 2012 10:09am Aug 20, 2012 10:09am
- Guest
- | IP XX.XXX.241.57
- Comment #2
- Quote
- Aug 20, 2012 10:18am Aug 20, 2012 10:18am
- frx_trader
- | Joined Jun 2012 | Status: Analyst | 3129 Comments
- Comment #3
- Quote
- Aug 20, 2012 10:38am Aug 20, 2012 10:38am
- ForexRatVN
- | Joined May 2010 | Status: Member | 46 Comments
- Comment #4
- Quote
- Aug 20, 2012 10:39am Aug 20, 2012 10:39am
- ttolman
- | Joined Nov 2010 | Status: Member | 58 Comments
pipdaddy
- Comment #5
- Quote
- Aug 20, 2012 10:43am Aug 20, 2012 10:43am
- Spik
- | Joined Jul 2010 | Status: Senior member | 293 Comments
- Comment #6
- Quote
- Aug 20, 2012 10:48am Aug 20, 2012 10:48am
- Spik
- | Joined Jul 2010 | Status: Senior member | 293 Comments
- Comment #7
- Quote
- Aug 20, 2012 10:58am Aug 20, 2012 10:58am
- kc22007
- | Joined Feb 2011 | Status: Member | 2 Comments
- Comment #8
- Quote
- Aug 20, 2012 11:02am Aug 20, 2012 11:02am
- frx_trader
- | Joined Jun 2012 | Status: Analyst | 3129 Comments