Karen Jones, analyst at Commerzbank, explains that the USD/CAD pair has failed to maintain a break above the 1.3386 June high, thereby leaving the market on the defensive and attention has reverted to the 55 day at 1.3302. Key Quotes “The recent high lies at 1.3467 and only a close above here will trigger a rally towards the 1.3661/64 December highs.” “Below the 55 day ma will trigger a slide back to the 200 day ma at 1.3182 and the 1.3140 2018-2019 uptrend. This guards the current February low at 1.3070 and the 1.3072/97 55- and 200-week moving averages.” “We still believe that a significant top has been formed with the October low at 1.2783 medium-term remaining in focus. En route is the April 2018-19 support line at 1.3124.” 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 UK’s Hammond: OBR cuts 2019 GDP growth forecast to 1.2% from 1.6% in October FX Street 4 years Karen Jones, analyst at Commerzbank, explains that the USD/CAD pair has failed to maintain a break above the 1.3386 June high, thereby leaving the market on the defensive and attention has reverted to the 55 day at 1.3302. Key Quotes "The recent high lies at 1.3467 and only a close above here will trigger a rally towards the 1.3661/64 December highs." "Below the 55 day ma will trigger a slide back to the 200 day ma at 1.3182 and the 1.3140 2018-2019 uptrend. This guards the current February low at 1.3070 and the 1.3072/97 55- and 200-week moving averages." "We… 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.
