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1 Aug 2014
USD/CAD broader gains on the cards - TDS
FXStreet (Guatemala) - Analysts at TD Securities noted that the broader trends here remains USD-constructive.
Key Quotes:
“The Q2 drop in USD based right on long-term trend support in the low 1.06s and the break out from the March/July consolidation phase (big, bull wedge) implies the resumption of the broader bull trend (towards 1.17/1.18 in the next 6-12 months, potentially)”.
“A weekly close above/below the 40-week/200-day MA has been somewhat helpful in defining the near-to-medium term trend in the recent past”.
“We expect limited near-term losses and continue to target broader gains for USD/CAD. Weekly bull trend momentum is aligning with the short-term studies—another big bull signal in our opinion”.
Key Quotes:
“The Q2 drop in USD based right on long-term trend support in the low 1.06s and the break out from the March/July consolidation phase (big, bull wedge) implies the resumption of the broader bull trend (towards 1.17/1.18 in the next 6-12 months, potentially)”.
“A weekly close above/below the 40-week/200-day MA has been somewhat helpful in defining the near-to-medium term trend in the recent past”.
“We expect limited near-term losses and continue to target broader gains for USD/CAD. Weekly bull trend momentum is aligning with the short-term studies—another big bull signal in our opinion”.