Day trade
Trade view / 10 July 2015 at 6:07 GMT

Trading volatile, but underlying tone positive for USDCAD

Partner at 3 C ANALYSIS / 3cAnalysis
United Kingdom
Instrument: USDCAD
Price target:
Market price:

Although early European trading saw some gains, after Asian profit taking, the upside proved limited yesterday. The bulk of the day’s trading was volatile, but it was trendless and a sequence of four positive daily performances has ended.

The USDCAD remains near the top of a rising Keltner channel however. Most of yesterday's downside was regained into the close, to emphasise the underlying tone. With this in the background, and despite modest losses in Asia, the underlying tone remains positive.

Management and risk description

A move to 1.2715 means the stop can be raised to break even.


Entry: 1.2680/85 area and dip to 1.2663

Stop: 1.2638 offered

Target: 1.2715, 1.2744 and 1.2769

Time horizon: Intraday on Friday July 10

Sequence winds up
Sequence Ended

 Asian decline
Asian Setback

Long-term trend

Long Term
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– Edited by Robert Ryan

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Non-independent investment research disclaimer applies. Read more
JohnJohn123 JohnJohn123
This comment has been redacted
AlanCollins AlanCollins
Price action has confirmed this view and sentiment remain positive but we raise the stop to 1.2688 with the Buy dip strategy cancelled


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