Forex Trading: USDCAD Trying To Bottom. But Not Getting Very Far.
The USDCAD is trying its best to bottom. The problem is there does not seem to be much of a short to cause a strong bounce in the currency pair.
From a technical basis the 1.0259 level has given us a number of hourly bar bottoms at the level to keep us interested in that level as a pivot area. If the price is above, bullish. If the price moves below bearish. A break below has 1.0234 as the low target and below that level, the low for 2010 comes in at 1.0223.
On the topside there are a … [visit site to read more]
