USDCAD – Buy at 1.2690 and 1.2666 (stop 1.2625), Thursday
This week’s positive call has been confirmed with yesterday’s move to our 2nd upside target. The most levels for 8 weeks have been reached with the market consolidating above the 100 day mvg avg . Overbought extremes are a concern, as is the proximity of the 200 day line. But our studies are and so, our call for this morning is a Buy from 7am but leaving room to also Buy any Dip to 1.2666. The risk is 1.2625, yesterday’s low, with an immediate target of 1.2715. A move through that point then exposes sentiment to 1.2742 and 1.2770.
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