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18 Mar 2014
Flash: USD/CAD bulls need to be patient – TDS
FXStreet (Guatemala) - Strategists at TD Securities suggested that the USD/CAD Bulls need to be patient.
Key Quotes:
“The daily chart still broadly reflects the patterns outlined above on the 6-hour chart—consolidation with a downside bias”.
“Weakness below the 40-day MA is notable today but slippage to or just below this point has been a buying opportunity in the past few weeks, rather than a bear signal”.
“The big, broader consolidation range remains intact and, after a sustained rally, these sorts of formations typically resolve to the topside. USD/CAD bulls, like us, have to be patient”.
Key Quotes:
“The daily chart still broadly reflects the patterns outlined above on the 6-hour chart—consolidation with a downside bias”.
“Weakness below the 40-day MA is notable today but slippage to or just below this point has been a buying opportunity in the past few weeks, rather than a bear signal”.
“The big, broader consolidation range remains intact and, after a sustained rally, these sorts of formations typically resolve to the topside. USD/CAD bulls, like us, have to be patient”.