USDCAD Forecast for the week 23rd April, 2014

USDCAD Forecast for the week 23rd April, 2014

Weekly Chart

• After the Hammer formation candle, as expected we saw last week have some bullish momentum

Daily Chart

• We saw continued bullish momentum last week , however past few days we are seeing seeing doji's / indecision from price action
• Having said that, yesterdays doji's body did actually close above minor resistance which should now become support however next resistance is near, so i expect some sort of rejection back towards the pink zone support before taking another leg up

Hourly Chart

• Broke through resistance, and looking on towards testing the next resistance

Outlook Trade opportunity

Long preferred

Risk Level LOW

Tips -

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