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U.S. Dollar / Canadian Dollar
Short

usdcad about to drop?

By darryl11
Updated
looking at failing the 100 day MA for third day running, tying in with the stochs about to roll over from a decent level. Todays candle closing here isn't a bearish one, but one to watch for continued rejection of the 100 day MA.
Comment
cad has indeed failed again and has dropped off this morning, stochs now completing the picture. Looking for yesterdays low to be taken to avoid an "inside" day, break below 129.6 and we target the huge cluster of moving averages from 129.4 to 1.287. expect some serious support around here.
Comment
Target on UC hit for the moment - we dropped to 1.293 and immediately bounced - slap in the middle of the congested MA area was highlighting. waiting now next move

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