7 Jan 2015
No top confirmation yet for USD/CAD – FXMarketAlerts
FXStreet (Barcelona) - The FXMarketAlerts Team explain that USD/CAD has failed to see a confirmation that a top has been formed, further anticipating sellers to get activated if the pair slips below 1.8000 levels.
Key Quotes
“USD/CAD overshot our 1.1848 projection by about 20 pips before giving it all back. We still do not yet see rock solid confirmation that a top is in at this moment, but we will note that if this mkt takes a hit below 1.1800 in the hours ahead, that would likely give the sellers a bit of confidence in trying to push the mkt back down to the 1.1728/00 zone”
Key Quotes
“USD/CAD overshot our 1.1848 projection by about 20 pips before giving it all back. We still do not yet see rock solid confirmation that a top is in at this moment, but we will note that if this mkt takes a hit below 1.1800 in the hours ahead, that would likely give the sellers a bit of confidence in trying to push the mkt back down to the 1.1728/00 zone”