Yesterday's strong move higher has ended the setback from last month's top.

Prices are now back above the 13 day ema that supported the last bull trend so well.

There is potential for a dip towards 1.2976, half of yesterday's net gains, but only a daily close below that point would threaten this view.

Upside potential to an immediate 1.3116, then 1.3187.

Views: 42

Tags: #cad, #eurcad, #euro, #forex

Comment by Alan Collins on January 11, 2013 at 3:26pm

1st target met pretty swiftly. 1.3187 next week but am raising stop to entry. Have a great weekend all.

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