FxWirePro: EUR/GBP bulls bamboozled by bearish engulfing in minor trend, major trend back in range on shooting star
FxWirePro: USDCAD trades higher on broad based US dollar buying, good to buy on dips
USDCAD has broken major resistance around 1.3340 and jumped more than 70 pips. It hits high of 1.34220 and is currently trading around 1.34087. The reason for major jump is due to
The major support is around 1.334 and any violation below will drag the pair to next level till 1.3300/1.3265. Any major bearishness only below 1.3200.
The near term resistance is 1.3435 and any convincing break above targets 1.3480/1.3500.
It is good to buy on dips around 1.3380 with SL around 1.334 for the TP of 1.3500.