FX Strategists at Scotiabank noted the pair risks further downside to the 1.3086 level in the near term. Key Quotes “Momentum indicators have faded from bullish to neutral and the DMI’s are confirming a shift in the balance of risk”. “USDCAD has yet to break through recent lows in the 1.3110 area however we remain bearish on the basis of the weekly reversal completed in late June and the shooting star completed last week”. “We look to near-term weakness toward the 50 day MA at 1.3086 and anticipate near-term resistance between 1.3180 and 1.3200″. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next ECB: Call for clarity – TDS FX Street 5 years FX Strategists at Scotiabank noted the pair risks further downside to the 1.3086 level in the near term. Key Quotes "Momentum indicators have faded from bullish to neutral and the DMI's are confirming a shift in the balance of risk". "USDCAD has yet to break through recent lows in the 1.3110 area however we remain bearish on the basis of the weekly reversal completed in late June and the shooting star completed last week". "We look to near-term weakness toward the 50 day MA at 1.3086 and anticipate near-term resistance between 1.3180 and 1.3200". Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
