On Wednesday USD/CAD long positions should be opened above the hourly 55-period Exponential Moving Average (1.3925) with targets set in proximity to December 22nd high of 1.3967 and stops placed just below the hourly 100-period EMA (1.3890-1.3900 area). Short positions, on the other hand, could be opened below the low from December 22nd (1.3913) with targets set in proximity to December 18th low of 1.3851 and stops placed just above the hourly 21-period EMA (1.3925-1.3935).
Author: Miroslav Marinoff
Miroslav Marinoff, a news editor at TradingPedia, is engaged with observing and reporting on the tendencies in the Foreign Exchange Market and the US Stock Market.
TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.Related News
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