My long time friend Peter at Thomson Reuters and 45 straight years of FX, CAD technical assessment. My view is 24 hour ranges from 1.2426 to 1.2536. Peter is right as usual in highly oversold USD/CAD on many moving averages.




USD/CAD oversold, shorts should square, look to buy next dip

Aug 25 4:23pm By Peter Wadkins

Break below the Aug 2nd 1.2533 low is bearish and re-sets targets at 1.2452 Aug 1 low and the 1.2414/33 cycle lows. Heavily oversold hourly 21-HMA Bollis & Keltner channels 1.2461 & 1.2455 (-3.0 & -2.5); Oversold daily Bollis & Keltner channels 1.2430 & 1.2463 (21-DMA -2.0/ Keltner -1.5) today’s low 1.2466. Shorts should be looking to book profits  around here, we’ll consider buying near cycle lows. (PW)

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