USDCAD NEAR TERM TOP ?

9 nov 2015

USD/CAD STALLED AROUND 1.3316 AREA AND PERHAPS HAS FORMED A NEAR TERM TOP AROUND THE AREA.CURRENTLY TRADING @ 1.3270 WE HAVE SOME MINOR SUPPORT BELOW @ 1.3252 AREA.IF WE BREAK BELOW THAT AREA WE MAY HEAD FURTHER DOWN FOR A TEST OF 1.3192 AREA SUPPORT.PRICES ARE STILL WELL ABOVE THE 100 DAY M.A AND 50 DAY EMA.SO THE TREND HERE IS STILL BULLISH ALSO OUR SHORT TERM SUPPORT TREND LINE REMAINS INTACT SO THE DOWNSIDE CORRECTION CAN STILL BE USED AS A GOOD OPPORTUNITY FOR BUYING FOR SHORT TERM TRADING.RESISTANCE AND SUPPORT LEVELS TO WATCHOUT FOR ARE 1.3316 , 1.3354 AND ABOVE THAT 1.3414 AREA , SUPPORTS ARE 1.3278 , 1.3252 , 1.3192