USDCAD Forecast for the week 14th April, 2014

USDCAD Forecast for the week 14th April, 2014

Weekly Chart

• Hammer Candle Formation last week from the Support Zone With the long wick , this shows buyers are really in control.

Daily Chart

• False break of support is noted from last weeks price action.  However Ichimoku Studies shows that we have broken the clouds and trading below, which suggest in a bearish mode. Having said that, the current clouds has some room for any bullish momentum to take place.  
• We also have the Tekan San line which is flat , which usually attracts price towards the line.

Hourly Chart

• This is the only Time Frame Chart (H4) which we are trading into the clouds acting as possible resistance, So I would like to see price go above the the clouds and break the 23.6% fib level to consider long trade

Outlook Trade opportunity

Please see H4

Risk Level LOW

Tips -

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