Technical
USDCAD Nearing Support of Upward Channel; Buy On Dips!
Today we are going to take a look at the Loonie or the Canadian Dollar. If we look at a daily chart of the USDCAD we can see that there is an upward channel formed since September 2013. Prices has held up when the prices go near the channel and they back down once they hit the resistance of the channel.
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Fundamentals
Japan's Economic Growth Slows Down in Third Quarter of 2013
Economic growth in Japan, the world’s third-largest economy, slowed to 0.5% in the July-to-September period, down from 0.9% in the previous quarter making Yen at the receiving end of the currency market by declining across the board of the majors. Against the US$,yen revisited the 100 level last seen September of this year. Closing at Y100.23 from Y99.26 the previous day.
To read the full trading recommendation, please click this link:http://metisetrade.com/index.php/research
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