Christopher Lewis
Add to Bookmarks

The USD/CAD pair tried to rally during the session on Monday, but found the 1.12 level to be a bit too resistive and therefore pullback to form a shooting star. The shooting star of course signifies that there could be some bearishness coming into the marketplace, we think that is only going to end up being more consolidation as is market traceable up enough momentum to break out to the upside. If we break the top of the shooting star, we feel that the market will then try the 1.1250 handle, and then above there continue on the longer-term uptrend towards the 1.15 handle.


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.

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