Saxo Group Videos

Coleman: USDCAD - four reasons to stall

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

01:13 minutes
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