USD/CAD: Upward trend on 4 hour graph and short term correction
Fibo correction to levels around 61.8%- support level
Price action: engulfing bar at 4 hour graph- signal for long
We wait for some pips in order to get a better position around 1.3048
CCI (50) passed above 100- signal for possible upward movement
DeM goes below 30
Fundament:This week the data about Nonfarm Payrolls is coming out. The expectations are good, thus we might see the dollar increasing its value. Stock markets are around their highs, which means that consolidation is possible, meaning a weaker CAD.
Stefan D. Angelov – Head of Stocks Trading