1. Hello Guest Do you know binary.com offers exclusive $20 No Deposit Bonus for FX Binary Point visitors? Click here to sign up

USD/CAD bearish short-term – Scotiabank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 27, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Joined:
    Oct 7, 2015
    Messages:
    27,524
    Likes Received:
    0
    FXStreet (Edinburgh) - FX Strategist at Scotiabank Eric Theoret has noted the near-term bearish outlook on the pair from the technical perspective.

    Key Quotes

    “Momentum has shifted dramatically and the RSI appears poised to break below 50 into bearish territory”.

    “We note USDCAD’s decisive break below the 21 day MA (1.4199) and look to a potential test of the 50 day MA at 1.3850 given the risk of a decline toward the late December congestion range between 1.3800 and 1.4000”.
    For more information, read our latest forex news.
     

Share This Page