Short term trend: Bullish
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 1.1378
Kijun-Sen level: 1.1385
Ichimoku cloud top: 1.1309
Ichimoku cloud bottom: 1.1290
USD/CAD retreated after making high of 1.14580 and overall trend is bullish as long as support 1.13120 holds. On the downside break of 1.13120 will target 1.1280/1.1250.
The pair’s minor resistance is around 1.1370 and any break of would extend gain to 1.14655/1.1531 in the short term.
Recommendation: Buy USD/CAD around 1.1360, SL 1.1309, Target 1.1531.
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 1.1378
Kijun-Sen level: 1.1385
Ichimoku cloud top: 1.1309
Ichimoku cloud bottom: 1.1290
USD/CAD retreated after making high of 1.14580 and overall trend is bullish as long as support 1.13120 holds. On the downside break of 1.13120 will target 1.1280/1.1250.
The pair’s minor resistance is around 1.1370 and any break of would extend gain to 1.14655/1.1531 in the short term.
Recommendation: Buy USD/CAD around 1.1360, SL 1.1309, Target 1.1531.