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Dec 09 - 03:55 AM

USD/CAD - Friday Rally Extends But Looks Ripe For A Correction

By Peter Stoneham  —  Dec 09 - 02:45 AM
  • Strong Friday rebound out of the Thursday

  • Our long target met at 1.4170 following early Monday push to 1.4175

  • We manage to book a little over 1% profit on the 1.4010 long play

  • The high just shy of the 2024 peak at 1.4178 from Nov. 26

  • Daily RSI is diverging but both momentum and slow stochs have room to lift

  • There is pullback risk but could be limited

  • Little in the way of good support until the Friday 1.4019 low point

  • We see risk of a correction lower within the underlying bull trend

  • USD/CAD Trading Page TGM2345

    For more click on FXBUZ

Source:
London Stock Exchange Group | Thomson Reuters

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