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 stance remains neutral – Scotiabank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 3, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Joined:
    Oct 7, 2015
    Messages:
    27,524
    Likes Received:
    0
    FXStreet (Edinburgh) - Eric Theoret, Currency Strategist at Scotiabank, expects USD/CAD to stay neutral in the short-term.

    Key Quotes

    “Momentum signals are conflicted, trend indicators are muted, and USDCAD is trading just above support around the 38.2% Fibonacci retracement level (1.3071) of the late September-early October decline”.

    “A failure to respect support at this level would shift the focus back toward the mid-October lows under 1.2850”.

    “We note that medium-term signals remain biased to USDCAD gains and expect USDCAD to fully retrace its recent decline”.
    For more information, read our latest forex news.
     

Share This Page