Short term trend: Bearish
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 1.1262
Kijun-Sen level: 1.1257
Ichimoku cloud top: 1.1322
Ichimoku cloud bottom: 1.1330
USD/CAD recovered after making low of 1.12270 and overall trend is weak as long resistance 1.1320 holds.
The pair’s minor support is around 1.1220 and any break below will target 1.11850/1.1160 in the short term .USD/CAD is facing intraday resistance around 1.130 and above that pair will reach 1.1320/1.1370 level.
Indicators
Ichimoku (9, 26, 52, 26) - Sell
MACD (12.26.9) – Neutral
Recommendation: Sell USD/CAD around 1.12600, SL 1.1320, Target 1.11850/1.1160.
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 1.1262
Kijun-Sen level: 1.1257
Ichimoku cloud top: 1.1322
Ichimoku cloud bottom: 1.1330
USD/CAD recovered after making low of 1.12270 and overall trend is weak as long resistance 1.1320 holds.
The pair’s minor support is around 1.1220 and any break below will target 1.11850/1.1160 in the short term .USD/CAD is facing intraday resistance around 1.130 and above that pair will reach 1.1320/1.1370 level.
Indicators
Ichimoku (9, 26, 52, 26) - Sell
MACD (12.26.9) – Neutral
Recommendation: Sell USD/CAD around 1.12600, SL 1.1320, Target 1.11850/1.1160.