USDCAD Headed higher by Reece Marini

USDCAD H4

UC4

Yesterday I mentioned the importance of the 1.12000 level where a 1:1 (White) and 38.2 fibo coincided, the market pushed briefly below this level before the smart money started buying taking this market higher. With the market now 60 pips above the 1:1 (White) I will move my stop into breakeven and see if the bulls can continue this run higher.

Analysis 22/10/14: http://www.remarkablefx.com/chart-of-the-day/

  • A 1:1 refers to a current correction being equal in length to a prior correction.

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