Day trade
/
Buy
Trade view / 14 March 2018 at 7:54 GMT

Key average supports further USDCAD upside

Partner at 3 C ANALYSIS / 3cAnalysis
United Kingdom
Instrument: USDCAD
Price target: 1.3007
Market price: 1.3950
Monday’s stalling at the 13-day moving average proved important. That point acted as a base Tuesday for fresh investor demand that took USDCAD back towards last week's levels around 1.3000. 

The speed and scope of the late move means intraday signals for sentiment are overbought but despite an Asian profit-taking attempt our technical indicators are supportive of further upside.

Management and risk description

A move to 1.2966 means the stop can be raised to break even.

Parameters

Entry: buy in 1.2935/40 area and at 1.2918.

Stop: 1.2883 offered.

Targets: 1.2966, 1.2985. and 1.3007.

Time horizon: intraday, closing 16:00 GMT.

Above average:
Above Average
Source: CGQ
 
Buyers return:
Buyers Return
Source: CGQ

Long-term:
Long Term
Source: CGQ

— Edited by Michael McKenna

Non-independent investment research disclaimer applies. Read more
A compiled overview of Trade Views provided on TradingFloor.com is found here
14 March
TradingFan TradingFan
Hi Alan, on board
14 March
HaythamSabry HaythamSabry
Hi Alan. Are you still on for this trade?
14 March
AlanCollins AlanCollins
nope
14 March
AlanCollins AlanCollins
tried the top, but setback since dilutes signals.
14 March
HaythamSabry HaythamSabry
Thanks
14 March
Mattyboy Mattyboy
First target was met, no?
14 March
AlanCollins AlanCollins
yes it was - you're right. Not as dynmaic as hoped/expected though

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