(0,9947) The USD/CAD confirmed a weak closing last night, below a s/t but important support line, returning therefore toward 0,9820; only a daily closing below this level will support further weakness. The monthly and yearly closing was negative supporting further possible pressure. The indicators of the daily chart are now again negative and also those of the weekly one are returning below the line while remain positive those of the monthly chart!! The indicators of the s/t charts are also negative this morning with already bullish divergences in the hourly chart supporting a negative tone. In the s/t only an hourly closing above 0,9880 will postpone the decline favouring a possible retest of the 200 hours line at 0,9927, move that we expect to be corrective, therefore a selling opportunity for a possible drop below 0,9820!! We sell a 0,9925 overshooting!!
Click here to read the full report: USDCAD 01.03
Future Trend Research