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28 Mar 2014
USD/CAD decent over for now – TDS
FXStreet (Guatemala) - Strategists at TD Securities explained that might be it of the USD/CAD sell-off.
Key Quotes:
“At least for now”.
“Short-term, price signals are turning a bit more constructive for USD/CAD late in the week”.
“The bounce in the market from the low 1.10 area is taking the form of a bullish “morning star” signal on the 6-hour chart—a usually reliable reversal pattern. This is the first real bounce in the USD in a week and, after the extended move lower over the past few days, a rebound is perhaps overdue”.
“A recovery to the 1.1140/50 area would be a reasonable target in the next few trading days.
Key Quotes:
“At least for now”.
“Short-term, price signals are turning a bit more constructive for USD/CAD late in the week”.
“The bounce in the market from the low 1.10 area is taking the form of a bullish “morning star” signal on the 6-hour chart—a usually reliable reversal pattern. This is the first real bounce in the USD in a week and, after the extended move lower over the past few days, a rebound is perhaps overdue”.
“A recovery to the 1.1140/50 area would be a reasonable target in the next few trading days.