The big news seen overnight was the energy sector creeping higher as shares broke through January highs on the rally in crude oil prices.
Day trade
Trade view / 11 October 2017 at 6:13 GMT

Technical signals look bullish and USDCAD may retest highs

Partner at 3 C ANALYSIS / 3cAnalysis
United Kingdom
Price target: 1.2598
Market price: 1.2505
The bulk of the day on Tuesday saw USDCAD decline from last week’s peak towards the 13 day moving average. Fresh demand, though modest, above that line took the currency pair back to last Thursday's Marabuzo line.

It is the limited nature of setbacks with the Keltner channel still positive that keep our technical signals bullish, and targeting a retest of last week's highs

Management and risk description
A move to 1.2530 means the stop can be raised to break even.


Entry: Buy in 1.2500/05 area and any 1.2483 dip.

Stop: 1.2448 offered.

Target: 1.2530, 1.2557 and 1.2598.

Time horizon: Intraday, closing 1500 GMT.

Above average
Above Average

Downside movement stalledDownside Stalled

Long-term trend
Long Term
All charts from CQG. Create your own charts with SaxoTrader; click here to learn more

For more on forex, click here.

— Edited by Robert Ryan

Non-independent investment research disclaimer applies. Read more
A compiled overview of Trade Views provided on is found here
11 October
As Kurniawan As Kurniawan
ok Sir,,
11 October
David12 David12
Allen, is this one still open to enter ?
11 October
Antonio Migliaccio Antonio Migliaccio
I am bear on usdcad target 1.24500
11 October
AlanCollins AlanCollins
David12. No not valid. First target met and stop raised to break even on remaining balances...Slip back since does suggest lower levels in coming days like Antonio thinks but, personally would prefer a NYK close below 1.2472 to be comfortable with shorts


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