Tuesday, January 27, 2015

Trade Idea: USD/CAD - Sell on break of 1.2400

Although the greenback moved marginally higher to 1.2501 today, lack of follow through buying suggests the greenback is losing near term upward momentum and reckon 1.2525-30 (2 times extension of 1.1191-1.1674 measuring from 1.1560) would limit upside, price should falter below 1.2590-00, risk from there has increased for a much-needed



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