The MA will be a key barometer in the new trading day

The USDCAD is pushing the 100 day MA at 1.23947. The price has been testing the level during the last 5-6 hours with ticks a few pips above the MA, but not much else. 

In the new day the level will be a key barometer for the buyers AND sellers.  Someone should win and with an average trading range for the USDCAD of around 77 pips (over the last 22 trading days or month of trading), there is room to roam one way or the other. 

Look for momentum away from the MA in the new trading day. 

Invest in yourself. See our forex education hub.



Source link

×