Morning Report

The dollar versus loonie is trading sideways since yesterday, with bullish signs continuing to appear through momentum indicators and therefore pushes the pair to ascend to touch main resistance 1.0325 once again, before resuming the bearish direction. We still see that the expected bearish direction, mentioned in our previous reports, remained intact; targeting mainly 1.0080 and requires 1.0365 to remain intact so chances of achieving it may prevail.

The trading range for today is among the key support at 1.0080 and the key resistance at 1.0410.

The general trend is to the downside as far as 1.1870 remains intact with targets at 1.0000.

Weekly Report Previous Report

RecommendationBased on the charts and explanations above our opinion is selling the pair from 1.0325 targeting 1.0200 and stop loss above 1.0410, might be appropriate.