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alan3cA

USDCAD - Sell at 1.2417 and 1.2440. Stop 1.2480

Short
U.S. Dollar / Canadian Dollar (FX:USDCAD)  
alan3cA Updated   
FX:USDCAD   U.S. Dollar / Canadian Dollar
Fibonacci Candlestick Analysis Moving Averages USDCAD Technical Analysis
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fibonacci candlestick movingaverage usdcad technicalanalysis
Yesterday's bearish, and sell rally, forecast had some success. Early trading attempted to resurrect last week's upside but levels above the 13 day mvg avg again, for a 3rd day in a row, found fresh selling. So although net movement was minimal, the capping of demand near that average line keeps immediate technical studies negative. So this morning’s call is a Sell but leaving room to also Sell at 1.2440, intraday Marabuzo line. The risk is 1.2480 with downside objectives at 1.2396, 1.2362, last week's bottom, or even 1.2334.
Comment:
Our 1.2396 target has been exceeded. Now looking at 1.2362, stop at 1.2418 and sell at 1.2440 cancelled
Comment:
2nd objective at 1.2362 reached. Stop lowered to 1.2390
Trade closed: target reached:
Final daily objective at 1.2334 reached
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