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|Subject: Technical analysis of USD/CAD for August 29, 2014 Fri Aug 29, 2014 8:08 am|| |
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General overview for 29/08/2014 14:50 CET Not much has changed in this pair since yesterday as the consolidation area is still being maintained. Only a clear breakout above the level of 1.0868 would change the intraday bias to the bullish side. Please, notice the increasing bullish divergence is building on the momentum oscillator. At the moment, there is no clear direction bias, so patience is needed now. Trading recommendations: Day traders should consider opening buy orders only when the level of 1.0868 is clearly broken with SL below the level of 1.0827. Otherwise, patience is required for a clear trading pattern to emerge.