USD/CAD went from 1.3190 to today's low of 1.2828. The level 1.2830 acts as a good support zone which is a quick opportunity to go long with a tight stop. Should the pair break 1.28 we might expect further sell off.
Chart: USD/CAD H4
Monday, June 6, 2016
USD/CAD Immediate Support
The USD/CAD pair reached a milestone in only two days after devastating jobs report on Friday. From 170k expected to 38k actual jobs created in May. The news sent the US dollar to monthly lows against major competitors.
USD/CAD went from 1.3190 to today's low of 1.2828. The level 1.2830 acts as a good support zone which is a quick opportunity to go long with a tight stop. Should the pair break 1.28 we might expect further sell off.
Chart: USD/CAD H4
USD/CAD went from 1.3190 to today's low of 1.2828. The level 1.2830 acts as a good support zone which is a quick opportunity to go long with a tight stop. Should the pair break 1.28 we might expect further sell off.
Chart: USD/CAD H4
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Great assessment, I'll keep it in mind.
ReplyDeleteExcellent analysis!
ReplyDeleteLet see if it holds.
ReplyDeleteIt keeps going down!
ReplyDeleteThe move to the downside continues.
ReplyDeleteThat's good to know, thanks.
ReplyDeleteGood assessment!
ReplyDeleteContinue falling.
ReplyDeleteGood work, keep it up.
ReplyDelete