4 Dec 2013
Flash: USD/CAD weekly high, next levels? – TDS
FXstreet.com (London) - Strategists at TD Securities explained the broader trend remains very constructive for USD/CAD.
Key Quotes:
“…and the push through resistance in the 1.0600/50 area this week confers a positive spin to the outlook”.
“Trend momentum signals are bullishly aligned across a range of timeframes still and there is nothing to suggest a turn lower is on the cards. But the daily
readings on the DMI oscillator are reaching an extreme; this is not a bearish signal as such, just a sign that the pace of the rally may moderate”.
“We remain bullish USD/CAD from a broader perspective but we think longs will have a chance to reset positions at better levels (1.05 handle possibly) in the weeks ahead. The next technical target is 1.0850”.
Key Quotes:
“…and the push through resistance in the 1.0600/50 area this week confers a positive spin to the outlook”.
“Trend momentum signals are bullishly aligned across a range of timeframes still and there is nothing to suggest a turn lower is on the cards. But the daily
readings on the DMI oscillator are reaching an extreme; this is not a bearish signal as such, just a sign that the pace of the rally may moderate”.
“We remain bullish USD/CAD from a broader perspective but we think longs will have a chance to reset positions at better levels (1.05 handle possibly) in the weeks ahead. The next technical target is 1.0850”.