Dollar/CAD dipped under 1.25 and is not that far from the critical support line of 1.2460. Has it gone too far? Here is the view from SocGen: Here is their view, courtesy of eFXnews: Societe Generale FX Technical Strategy Research notes that USD/CAD has reintegrated within the steeper channel since 2012 and has accelerated its decline towards 1.25/1.2460 which is corresponding to last year through and is close to the 38.2% retracement of whole up move from 2007. “More importantly it is closing in on the lower bound of the aforementioned channel. Weekly stochastic has now reached a pivotal floor which suggests the correction looks a bit overstretched. 1.25/1.2460 will be a crucial level; a tentative pause can’t be ruled out once this is achieved. Short term, the pair has reached the lower bound of an hourly channel, however, a move beyond immediate hurdle at 1.2620 is needed to signal early signs of recovery,” SocGen argues. For lots more FX trades from major banks, sign up to eFXplus By signing up to eFXplus via the link above, you are directly supporting Forex Crunch. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Daily Look share Read Next AUD/USD: A Correction Lower Is Overdue; Above 0.80 To Be Yohay Elam 6 years Dollar/CAD dipped under 1.25 and is not that far from the critical support line of 1.2460. Has it gone too far? Here is the view from SocGen: Here is their view, courtesy of eFXnews: Societe Generale FX Technical Strategy Research notes that USD/CAD has reintegrated within the steeper channel since 2012 and has accelerated its decline towards 1.25/1.2460 which is corresponding to last year through and is close to the 38.2% retracement of whole up move from 2007. "More importantly it is closing in on the lower bound of the aforementioned channel. Weekly stochastic has now reached a pivotal floor… 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.
