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Collins: Bullish on USDCAD

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March 18, 2015 dfx, foreign exchange, forex, forex 2014, forex 2014 outlook, forex buying, forex eurusd, forex exchange, forex idea, forex market, forex market overview, forex markets, forex saxo bank, forex strategy, forex trade idea, forex trading, forex trading 2014, forextrading, fotrex, fx, fx award, fx changes, fx crosses, fx dealing, fx dollar swiss, fx eurgbp, fx eurjpy, fx eurusd, fx exchange, fx forex, fx gbpusd, fx interbank markets, fx investing, fx market, fx markets, fx options, fx pound, fx rates, fx regulation, fx saxo bank, fx spot, fx sterling dollar, fx strategy, fx trade, fx trade idea, fx traders, fx trades, fx trading, fx tradinging, fx trends, fx usdjpy, fx volatility, fx volatitily, fx vols, fxallocationmodel, fxfx, fxfxfotrex, fxmarkets, fxmonthly, fxoptions, fxspot, fxtrade, gfx, saxo tv, tradingfloor.com, usd, usd eur, usd index, usd jpy, usd strength, usdaud, usdcad, usdcad trading, usdchf, usdeur, usdgbp, usdjpy, usdrub
Alan Collins talks us through his trade in USDCAD which he believes has upside potential after a peroid of consolidation: "The backdrop to this currency pair is the fact that through December and January prices were ‘hugging’ the top end of rising Keltner channel – a clear sign of a positive trend. 
During February the market consolidated in the middle of a flat channel but this has ended during the last 8 days with a renewal of demand and renewal of a positive Keltner channel.
Despite the last 2 days showing sideways movement, the underlying tone remains bullish with profit taking setbacks temporary and limited. "


Alan says the 2009 top of 1.3063 is a reasonable objective in the coming days. 

Interim levels include 1.2863 and 1.2943 and only a move below 1.2682 threatens this scenario.

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