9 Jun 2015
Fade rallies in USD/CAD – TDS
FXStreet (Edinburgh) - Fade rallies in USD/CAD – TDS
Strategists at TD Securities recommend selling the pair on strength in the near term.
Key Quotes
“Price signals are turning negative on the longer-term charts; Friday’s bearish (outside range) reversal day in USDCAD sets the tone here and the heavy-ish losses registered Monday and (so far) today serve as ’confirming’ price action of the reversal”.
“Note that the until-recently positive trend momentum on the daily chart is close to turning neutral now and this may grease the path for a softer USD in the days ahead. Look to sell rallies for now”.
Strategists at TD Securities recommend selling the pair on strength in the near term.
Key Quotes
“Price signals are turning negative on the longer-term charts; Friday’s bearish (outside range) reversal day in USDCAD sets the tone here and the heavy-ish losses registered Monday and (so far) today serve as ’confirming’ price action of the reversal”.
“Note that the until-recently positive trend momentum on the daily chart is close to turning neutral now and this may grease the path for a softer USD in the days ahead. Look to sell rallies for now”.