Free Trial

Lack Of Downside Momentum Keeps.......>

DOLLAR-CANADA
DOLLAR-CANADA: Lack Of Downside Momentum Keeps Bull Flag Alive
USDCAD reversed all of Wednesday's losses yesterday and remains on the front
foot today which keeps the potential for a bull flag breakout heightened. Bulls
need to close above 1.3113 to trigger a breakout and target the Sep highs at
1.3226. Bears look to push back below the 50-dma at 1.3012 before challenging
the Wednesday's low at 1.2970 to bring the Oct 16 low 200-dma into play.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.