2016-02-23_19-34-50usdcad-1024x505

Dear all,

Price has been coming down on the usdcad pair. Therefore I would only advise on short trades.

Price found support on the 4 hour graph at the 1.36850 to 1.36350 area. From there it moved north and is now at the resistance zone at 1.37600 to 1.38100.

The 55 day blue moving average seems to be leading price at number 13. The stochastik wants to turn south therefore a short trade could be considered with a stop loss over the blue moving average and with a target at the previous support area.

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