Loonie has formed a temporary bottom around 1.2666 and showing a minor jump from that level. The pair jumped till 1.25745. It is currently trading around 1.27443. USD/CAD broken trend line resistance at 1.2740 (trend lin…
Loonie has formed a temporary bottom around 1.2666 and showing a minor jump from that level. The pair jumped till 1.25745. It is currently trading around 1.27443.
USD/CAD broken trend line resistance at 1.2740 (trend line joining 1.29147 and 1.28196) and this confirms minor bullishness, a jump till 1.28195/1.2900 likely.
Crude oil prices is consolidating after hitting high of $57.89. The prices increased sharply on extension of OPEC supply cut and demand is expected to rise sharply in 2018. The near term support is around $56 and any break below will drag the commodity down till $55.26 (89- 4H EMA)/$54.
On the lower side, minor support is around 1.2690 and any break below will drag the pair down till 1.2600/1.2540/1.2500.
It is good to buy on dips around 1.2735-1.2740 with SL around 1.2690 for the TP of 1.28195
