usdcad above 100 day ma first time since 24th feb 2016 but I will need a daily close above 1.3100 and above the trend line from 30th june 2014 low to confirm a buy trade. Targets could be the 200 day ma (1.3314) which is close to the 38.2% fib (1.3306) of the 20th jan 2016 high to the 3rd may low. I am looking for a daily close below 1.3000 possibly below 1.2960 to confirm a short trade with first target around 1.2840 and a second target around 1.2660
Comment:
USDCAD rejects the trendline with an all engulfing candle and is now back below the 100 day ma and the psychological price 1.3000.