Day trade
Trade view / 19 July 2016 at 6:01 GMT

USDCAD goes negative, capped by key average

Partner at 3 C ANALYSIS / 3cAnalysis
United Kingdom

Trading in USDCAD was more volatile than in other major FX pairs yesterday but with only a modest net loss on the day.

But it is the failure over the last two days to break back above the 13/100 day moving average area that keeps our technical signals modestly negative despite some demand in Asia.

Management and risk description

A move to 1.2965 means the stop can be lowered to break even.


Entry: Sell in 1.2985/90 area and any rally to 1.3024.

Stop: 1.3055 bid.

Target: 1.2965, 1.2945 and 1.2920.

Time horizon: Today 1600 GMT.

Averages cap
Averages Cap
 Asian gains
Asian Gains
 Long term
Long Term
 Source: All charts, CQG

— Edited by Adam Courtenay

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