Noor Trends News, Technical Analysis, Educational Tools and Recommendations
As we expected, the Canadian dollar consolidated its gains within a strong bullish trend, touching all the targets, reaching the required official station 1.3830, recording its highest level at 1.2865.
Technically, we tend in our trading to the positive, relying on the positive stimulus coming from the 50-day moving average, coinciding with the stability of the RSI above the mid-line 50.
The bullish trend remains the most likely target, targeting 1.2930, knowing that the confirmation of the breach of the mentioned level is a catalyst that enhances the chances of rising to visit 1.3000 next station.
Only from below, the return of the stability of trading again below 1.2720 invalidates the activation of the bullish scenario, and we may witness a minor bearish correction that aims to retest 1.2570.
| S1: 1.2715 | R1: 1.2930 |
| S2: 1.2570 | R2: 1.3010 |
| S3: 1.2500 | R3: 1.3150 |
