S&P 500 — US Large Cap Index
FTSE 100 — UK Blue Chips
Euro Stoxx 50 — Eurozone Leaders
DAX 40 — German Equities
CAC 40 — French Market Index
Nikkei 225 — Japan Benchmark
Hang Seng — Hong Kong Index
Shanghai Composite — China Mainland
ASX 200 — Australian Market
TSX Composite — Canada Index
Nifty 50 — India Large Cap
STI Index — Singapore Market
KOSPI — South Korea Index
Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico Market
Facts: USDCAD is trading in a downward trend since the beginning of July The pair reacted to the key resistance at 1.3907
Recommendation: Trade: Short USDCAD at market price Target: 1.3828, 1.3806 Stop: 1.3911
Opinion: USDCAD has been trading in a local downward move since the beginning of July. Looking at the pair at the H1 interval, one can see that the price reacted to the key resistance at 1.3907, following a local upward correction. The resistance is a result of the previous low from August 12. In addition the price returned below the upper limit of 1:1 structure, which according to the Overbalance methodology supports a downward scenario. The pair also sits below the 100-period moving average from the H1 interval. We recommend going short USDCAD at market price with two targets: 1.3828 and 1.3806 . We also recommend placing a stop loss order at 1.3911. Source: xStation
