(1,0197) The USD/CAD confirmed last night another strong closing after a 1,02 overshooting, missing however to directly test the resistance line at 1,0225!! The indicators of the daily chart are still well positive but now a little overbought and showing potential negative reversals. The indicators of the s/t charts are mixed but very close to turn again positive supporting also the formation of a positive reversal suggesting a s/t target at 1,0307!! Because of the potential negative reversal situation in the daily chart and the important resistance line above 1,0220 we try a short position in case of a 1,0230(or maybe higher) overshooting with a 50 pips stop!
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Future Trend Research