USD/CAD Bullish Extension Theme

Published 02/24/2014, 02:45 AM
Updated 05/14/2017, 06:45 AM

USDCAD latter Feb risk through critical 1.1240 for 1.1335 and 1.1420 Fibo targets

 
Despite a head fake type move on Friday, after the anticipated push through 1.1125/35 targets, we still see a bullish tone early this week and into late Feb.

Likely digestion on Monday, but we would look for 1.1060 to try to hold.

The aggressive rebound from our flagged support at 1.0900, shifted the view for a re-energizing of the longer term bullish theme.

This still aims up for critical barriers at 1.1220/40 and then maybe higher for 1.1335 and 1.1420 Fibo extension targets.

WHAT CHANGES THIS?

Below 1.1060 eases bull risks; through 1.0975/65 signals a neutral tone, only shifting negative below 1.0900.

Please see full report with levels and latest audio-visual analysis here:

Daily USDCAD

Weekly USDCAD

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