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USD/CAD Trade idea

Tuesday, January 26, 2016 11:25 AM UTC

Major resistance - 1.4314 (55 day 4 H EMA)

Loonie has broken major resistance 1.4314 and jumped till 1.4180. It is currently trading around 1.4310.
Short term trend is slightly bullish as long as support 1.4250 holds.Any break below 1.4250 will drag the pair down till 1.4190/1.4160.
On the higher side any break above 1.43140 will take the pair till 1.4360/1.4400.
Short term trend reversal below 1.4160.

It is good to buy at dips around 1.4300 with SL at 1.4250 for the TP of 1.4400

R1-1.43140

R2-1.4360

R3-1.4400

Support

S1-1.4250

S2-1.4190

S3- 1.4160

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USD/CAD Trade idea

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