Long

USD/CAD stalling at 1.3650 but today...

Updated

The 100% Fibo extension of 1.2527, 1.3390, and 1.2780 has played out and hit our first target. Price stalled in this area in the two sessions prior to today but today's move of ~.5% up gives reason to believe this rally could continue higher to the next target of 1.38. Oil prices would need to remain weak and an end to the US Government shutdown could be a catalyst for a move higher. Beyond 1.38 are other targets up to the January 2016 all time high of 1.46.

Note

Price weakening at 1st resistance. Trend still higher.

Note

This is a good example of why taking profit when initial targets are hit is important.

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