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Coleman: USDCAD - four reasons to stall
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Ian Coleman is watching USDCAD after a week when traders have seen aggressive selling around the 50% pullback level at 1.0949.
Ian has seen a bearish outside week a negative signal for sentiment despite some upward pressure.
He argues there are four reasons to stall:
- Bespoke resistance at around 1.0898
- 50% pullback at 1.0903
- Marabuzo level at 1.0906
- Turning bearish on USD.
Ian says he's looking to sell at the market:
Stop: 10915
Targets: 10840 & 10810