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USDCAD Poised Above Key Support into Data

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USDCAD Poised Above Key Support into Data

A deeper correction Thursday and unexpected, back from 1.2698 to push through the trend line support from late 2014, but hold above a chart prop at 1.2429 (this week's low), above the neckline support now at 1.2385, the 1.2352 February setback low and the January chart support at 1.2313.

However, we look for this broad support area to hold for a rebound back higher and for a bullish theme to again come through.

A taster of the report above. To view the full USDCAD report with screencasts, levels and more, click here
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4 Hour USDCAD Chart

b2ap3_thumbnail_USDCAD2_20150213-062950_1.png

 

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Steve Miley is The Market Chartist and has over two decades of financial market experience with him. He spent 2009-2012 as a Director of the FX Technical Analysis Research Strategy team at Credit Suisse and was previously at Merrill Lynch for 15 years; 10 years as a technical analyst, 5 years in Fixed Income sales.


He was 2013 winner of the Technical Analyst Magazine Award for Best Independent Fixed Income Research & Strategy, Runner Up for the same award in 2014 and was the winner of Best FX Research & Strategy 2012 (at Credit Suisse).


Steve is a Member of the Society of Technical Analysts (MSTA) and holds a Masters Degree in Politics, Philosophy & Economics from Lincoln College, Oxford University.


Steve has covered all major asset classes including Rates & Credit, G10 & EM currencies, Equity Indices & Sectors and Commodities and has strong relationships across the institutional financial trading spectrum, including Central Banks, Real Money accounts, Hedge Funds and other Global Corporates.

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