FXEMPIRE
All
Ad
Advertisement
Advertisement
Christopher Lewis
Add to Bookmarks
usdcad

The USD/CAD pair initially fell during the Wednesday session, but as the date grew longer, we got more and more negative headlines out of Washington DC which push the Dollar higher. We still remain below the 0.99 handle though, and as a result we don’t see this is a significant move, rather a knee-jerk reaction bad news.

Even if we do get a move higher, we need to clear the 0.9950 level in order to feel that this market has broken above some kind of significant resistance. With this being said, we still look at this pair as being in consolidation between 0.99 and 0.98, and because of that we don’t see the trade in this action.

Advertisement
Know where USD/CAD is headed? Take advantage now with 

Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded. Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

USD/CAD Forecast December 20, 2012, Technical Analysis
Advertisement
Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Trade With A Regulated Broker