4 Mar 2014
Flash: USD/CAD risks to the downside - TDS
FXStreet (Guatemala) - Strategists at TD Securities explained that the USD/CAD continues to consolidate from a short-term point of view with near term risks indicated to the downside.
Key Quotes:
“Short-term price action remains potentially bullish, with a bull flag set up still developing on the 6-hour chart (1.1035/1.1155, evident on the daily chart, below also). The performance overnight failed to deliver on the modest upside potential we highlighted yesterday though and a minor peak now looks in place at 1.1110”.
“Risks seem geared towards a test of the low end of the consolidation range in the near-term”.
Key Quotes:
“Short-term price action remains potentially bullish, with a bull flag set up still developing on the 6-hour chart (1.1035/1.1155, evident on the daily chart, below also). The performance overnight failed to deliver on the modest upside potential we highlighted yesterday though and a minor peak now looks in place at 1.1110”.
“Risks seem geared towards a test of the low end of the consolidation range in the near-term”.