USD/CAD: Outlook Is Positive
Jason Sen | Oct 23, 2014 12:56AM ET
USD/CAD just drifting sideways for a few days. The outlook is positive & the pair just held on to good support at 1.1205/1195. Use this area as a buying opportunity again today. Try longs with stops below 1.1175. Try longs again at short term trend line support at 1.1155/50, with stops below 1.1130.
Holding above 1.1230/35 could re-target key resistance at 1.1280/90. We topped exactly here yesterday for a potential 80 pip profit. Any shorts here today need stops above 1.1315. If we continue higher look for a retest of last week's high at 1.1380/85. Exit longs here & try shorts here with stops above 1.1400.
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