USD/CAD: Daily Analysis
Nenad Kerkez | Dec 17, 2014 07:26AM ET
PRE FOMC USD/CAD – TWO important zones
USD/CAD is in uptrend. POC1 comes around 1620. We see an inner trend line, intraday trend line, 50.0 fib and near term buyers. 1670 is the target if the price rejects at the region. Now, we could also see a deeper pullback to 1590. 1590 is in a perfect confluence with L4 camarilla and 88.6 fib. In the case of a deeper pullback 1590 could could be a spot for a long trade towards 1620 and 1670.
The analysis should cover PRE FOMC movement. I advise staying aside 2h pre FOMC.
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