Jaroslav Vaclavik
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Jaroslav Vaclavik in Jaroslav Vaclavik -SMB Capital,

USD/CAD and US NON-FARM PAYROLLS DATA IN FOCUS

USD/CAD 

BIG PICTURE PERSPECTIVE

Price Action  above long  term Key Support Level  1.0576 keeps uptrend well intact .  The more significant resistance is  at 1.1183 and  within those parameters we have an area  of  trading opportunities .


For Long USD/CAD  Position  Trade or  Swing  , we have a  pattern developing in the 1.0840 - 1.0805 area and it also coincide with  38.2 Fibonacci Retracement level  . Below that look for  1.0700 Support and Key  1.0576 . Bullish  view would however  be compromised to some extent if we were trading well below 1.0804 for some extended period of time  as Bearish structure would  develop from that .

http://smbu.us/smbwh

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INTRADAY LEVELS 

Intraday Trading ;

 Longs , looking  for  validation setup at the 1.0908 - 1.0837 area.

 Shorts entering  around 1.1095 as a first attempt  with tight stops and 1.1186-1.1246 area for countertrend entry .

http://smbu.us/smbwh