USD/CAD Signal- January 15, 2013
Method: Ichimoku Kinko Hyo
Description: Today's catch is the US Dollar and the Canadian. As per the old Japanese Ichimoku clouds, the shorter term average has completed a dead cross below Kijun sen the red average two weeks ago by a sharp drop with a long red candle that formed a good resistance level. The trend has penetrated the could Kumo which it tells a good chance for further drop for the coming week or two. The sentiment is negative and the Chikou is reflecting the bearish move. I will short and hold the pair with open target at the moment and keeping my Stop Loss just above the cloud at 1.0000 level.
Recommendation: Sell and Hold
Stop Loss: 1.000
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