FXstreet.com (Barcelona) - The Dollar has continued rising against the Canadian during the European session to hit 1.0580, highest level since October 8, after climbing 115 pips from 1.0465, intra-day low. Currently the USD/CAD is trading around 1.0550/60, 0.65% above today's opening price action at 1.0490 in consolidation mode.
Rajoo C, analyst at Precise Trader, commented this morning: The Price on the Hourly is in a Range trading and expect the price to be choppy until the breakout happens , the price should not trade above 10445-10350 levels to maintain the bullish outlook. On the 5 min is choppy and the price patterns suggesting to test the highs . The Bulls pay attention to 10460-05 levels while the Bears pay attention to 10565-10630. Conservative Traders: Stay SIDELINED or strictly trade only at Precise Traders Report levels. Aggressive Traders : Stay SIDELINED or LONG near 10405-10350 with a tight Stop and 50 pips as price targets.