Saturday, October 4, 2014

The USDCAD recently managed to break down the important moving averages - the 100 and 200-day movin

"The course USDCAD: Support in 1.0050-60 - CIBC World Markets | Forex Scope
Starting the North American session on Thursday accompanied by the strengthening aib of the Canadian dollar, which supports the growth of the single European currency decline, the rising cost of oil, as well as a number of other factors.
The USDCAD recently managed to break down the important moving averages - the 100 and 200-day moving average, which confirms the trend of strengthening against the dollar, - says the situation on trading Forex senior currency strategist at CIBC World Markets Jeremy Stretch.
In addition, said Jeremy Stretch, short-term correlation between aib the oil price and currency of Canada is quite high, and the rising cost of a barrel, of course, supported the rise of the dollar in Canada. In Canada itself came out good statistics. So performance of wholesale trade for May rose 0.9% to a total of 49.77 billion Canadian dollars, after the April growth of 1.2% (revised downward after the initial publication of 1.5%) perceived by the market with optimism. Nevertheless, said Jeremy Stretch, the USDCAD will be supported with a decrease in the area of 1.0050-60.
USDCAD aib Analysis Forex trading intraday shows the predominant risk reduction, which is confirmed by the testimony of the indicator RSI, clearly indicating the development of a "bear" trend. Critical mark turn (change direction) is determined aib by the level of 1.0140.
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