19 Jan 2015
USD/CAD bulls momentum waning - TDS
FXStreet (Guatemala) - Analysts at TD Securities explained that the USD/CAD bull momentum has waned on the 6-hour chart.
Key Quotes:
"But the broader bull trend remains intact and strongly entrenched on the daily, weekly and monthly charts."
"Absent any clear signs of the move up stalling or reversing, this suggests that the overall move up in USD/CAD still has room to extend."
"Near-term, we spot resistance in the mid 1.20 area and firm support (pullback trend) at 1.1840. We still prefer to look at minor dips as a buying opportunity."
Key Quotes:
"But the broader bull trend remains intact and strongly entrenched on the daily, weekly and monthly charts."
"Absent any clear signs of the move up stalling or reversing, this suggests that the overall move up in USD/CAD still has room to extend."
"Near-term, we spot resistance in the mid 1.20 area and firm support (pullback trend) at 1.1840. We still prefer to look at minor dips as a buying opportunity."