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Danske Bank enters USD/CAD long

Danske Bank enters USD/CAD long

Danske Bank enters short-term USD/CAD long from 1.133, with a target at 1.15 and a stop at 1.1275 Short term trend: Bullish Ichimoku analysis (4 Hour chart): Tenkan-Sen level: 1.1354 Kijun-Sen level: 1.133 Ichimoku cloud top: 1.1309 Ichimoku cloud bottom: 1.1298 USD/CAD made a low of 1.1259 and recovered from that level. Overall trend is bullish as long as short term support 1.1275 holds. The break below 1.1275 will target 1.122/1.120 in the short term. The pair’s major resistance is around 1.1400 and any indicative break above would extend gain to 1.1465 (Nov 5th high)/1.1500. Minor resistances are at 1.136/1.1385. Recommendation: Buy USD/CAD around 1.1335, SL 1.1275 Target 1.150.