The USD/CAD has
opened this week from the support and trend back is achieved its resistance of
1.03688. This consecutive uptrend has somewhat compensated the tremendous short
for the past days.
The day before yesterday has noted as downtrend and it could
be retrieved on yesterday by the news releases.
As, this pair is so parity, it always shows the zigzag trend. The market
has experienced the oversold on yesterday’s close.
Thus, it provides the
today’s open at the support of 1.02982. The strong belief over the moving
average would obviously predict the long on this pair.
It has already passed
over the pivot and struggle to hit its resistance. But once the pair crosses
the level of 1.03352 this will lead to find its resistance after gaining of 50
pips.
No comments:
Post a Comment