Flash: USD/CAD bull trend being confirmed - TDS

FXStreet (Guatemala) - FXStreet (Guatemala) - Strategists at TD Securities explained USD/CAD’s almost pinpoint retracement to the 50% Fibonacci support zone and subsequent rebound puts a very positive spin on the near-to-medium term outlook for funds here.

Key Quotes:

“Firstly, price signals are bullish on the hourly/6-hour charts, right off the low 1.09 area (hourly “morning star” bull reversal, “hammer” low/reversal candle on the 6-hour chart)”.

“Secondly, the market has pushed through channel (bull flag) resistance at 1.0963 (now support), suggesting a resumption of the broader bull trend”.