Suitable level for long position

10.01.2017 / 12:08

Rating:

USDCAD: 10.01.2017 D1 chart.
Uptrend on daily chart.
Price above diagonal and horizontal supports and close above 38.2% Fibo level.
Price Action: Doji bar and price holding above horizontal support on level 1.319
Technical Indicators:
DeM – Close to level 0.3 expected to turn up – positive signal.
CCI (50) – Gives conflicting signals. Level below 0 – negative signal. Divergence according to the bar chart – positive signal.
Price above SMA 200 – trend substaining signal.
SL: 1.31215
Alternative scenario: If the price breaks below horizontal or diagonal supports or 38.2 Fibo level, this probably will lead to correction and test to SMA 200 or 50% Fibo level.

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Suitable level for long position

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