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USD/CAD Spot Daily Forecast – 23 October 2014

By:
FX Empire Editorial Board
Updated: Aug 25, 2015, 02:00 UTC

USDCAD just drifting sideways for a few days. The outlook is positive & the pair just held on to good support at 1.1205/1195. Use this area as a

USD/CAD Spot Daily Forecast – 23 October 2014

USD/CAD Spot Daily Forecast - 23 October 2014
USD/CAD Spot Daily Forecast - 23 October 2014
USDCAD just drifting sideways for a few days. The outlook is positive & the pair just held on to good support at 1.1205/1195. Use this area as a buying opportunity again today. Try longs with stops below 1.1175. Try longs again at short term trend line support at 1.1155/50, with stops below 1.1130.

Holding above 1.1230/35 could re-target key resistance at 1.1280/90. We topped exactly here yesterday for a potential 80 pip profit. Any shorts here today need stops above 1.1315. If we continue higher look for a retest of last week’s high at 1.1380/85. Exit longs here & try shorts here with stops above 1.1400.

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FX Empire editorial team consists of professional analysts with a combined experience of over 45 years in the financial markets, spanning various fields including the equity, forex, commodities, futures and cryptocurrencies markets.

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