FXstreet.com (Barcelona) - The Dollar has been advancing against the Canadian during the European session After breaking MA55 hourly chart at 1.0480 to rise 55 pips to hit intra-day high at 1.0535. Currently the pair is trading around 1.0515/25, 0.45% above today's opening price action at 1.0465.
Rajoo C, analyst at Precise Trader, commented this morning: The Price is trading Below Monthly, but above Weekly open and closed Above the Res Zone 1 and with the bulls gave up mildly towards the close. The Price on the Hourly is in a Range trading and expect the price to be choppy with a potential to test the highs , the price should not trade below 10400-10350 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 10395-10300 levels while the Bears pay attention to 10585-10670. Conservative Traders: Stay SIDELINED or strictly trade only at Precise Traders Report levels. Aggressive Traders : Stay SIDELINED or LONG near 10395-10300 with a tight Stop and 50 pips as price targets.