DAILY FORECAST FOR USDCAD

Bias: The move higher does not yet look complete and while 1.0664-79 supports I look for 1.0857-03

The bearish divergence still remains present in the 8-hour chart but has not been supported by the lower time frames yet. Therefore I feel we are due one more rally. However, early trading could well remain in a range between 1.0664-79 and 1.0767-79 before seeing the last leg higher. Thus a break above 1.0779 would extend gains through to 1.0857-66 at least and potentially 1.0903. I feel this will complete the rally. However, do also keep in mind the 1.0946 resistance…

Please view the complete analysis in the attached PDF file.

For a full description of how to use the analysis please see the Analysis page of my website. The prior day’s set ups for potential trading levels highlighted in the report are now available on the Daily Forecast page of my web site.

Kind regards

Ian