18 Jul 2014
Buy USDCAD, stop at 1.06, target 1.10 - TDS
FXStreet (Bali) - TDS FX Team recommended to buy USD/CAD at 1.0730, with stop at 1.06 and target of 1.10.
Key Quotes
"We think the broader, downward correction in USDCAD has run its course; technical factors are turning bullish after the rebound from 1.0600/50 and the fundamental data flow is likely to remain challenging for the CAD."
"Market positioning is neutral and there is no incentive for investors to get long CAD, in our opinion. We think there is a risk that Canada's June CPI data disappoints to the downside, which should help push USDCAD to, and perhaps through,1.08."
Key Quotes
"We think the broader, downward correction in USDCAD has run its course; technical factors are turning bullish after the rebound from 1.0600/50 and the fundamental data flow is likely to remain challenging for the CAD."
"Market positioning is neutral and there is no incentive for investors to get long CAD, in our opinion. We think there is a risk that Canada's June CPI data disappoints to the downside, which should help push USDCAD to, and perhaps through,1.08."