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USD/CAD Trade idea

Tuesday, July 19, 2016 12:32 PM UTC

Major resistance- 1.3020 (90 day EMA)
Loonie is facing strong resistance at 90 day EMA and any short term bullishness only above that level. It is currently trading around 1.30185.
Any indicative break above 1.3200 will take the pair to next resistance at 1.3050/1.3100/1.3125.
On the lower side, minor support is at 1.3000 (daily Tenkan-Sen) and any break below targets 1.2945 (21 day MA)/1.2909 (daily Kijun-Sen)/1.2860.
Overall trend reversal only above 1.31880.

It is good to buy above 1.30255 with SL around 1.2970 for the TP of 1.3100/1.3125

R1- 1.3025

R2-1.3100

R3-1.3125

Support

S1-1.3000

S2-1.2945

S3-1.2870

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USD/CAD Trade idea

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