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From the 15m chart this pair unfold as a disagreement pattern at the end of the trading hours yesterday and the price turn back down a little bit ,if this pair keep the bearish impetus then we can presume the wave 2 or b had completed the swing in the 4h chart.
http://i46.tinypic.com/359a8gi.gif
The short term trend of the pair is to the downside. Intraday trading range of the pair is expected among key support at 0.9725 and key resistance at 0.9970. Based upon my chart analysis, I prefer to stay aside from the pair until we get a confirm setup for the upcoming big move.
Upward direction pair today
Expected targets 0.9880 - 0.9900
With the necessity of constant trading above the support level 0.9820
Can now obtain a good position to sell, the couple went back to the resistance 9874 (the rate is trading in a sideways channel and has no clear trend), while noticeable stop near the line, at the beginning of the fall selling, the goal will be to support 9770 again.
time to occur breaout high on the currency pair usd cad, a pattern of narrowing Bollinger band has been seen on daily chart and it will be very positive to move up. usd cad buy with a target of 9985, wait until the news release will happen later cad
USD/CAD
SELL
Entry :- .98470
TP1 :- .97979
TP2 :- .97489
SL :- .99456
Note this is just my attempt to predict the price could be right or wrong stop-loss order is very important must put always follow the trend
A short position, the pair went back to the upper limit of a converging triangle (9877), on the hourly chart clearly shows the consolidation of five-hour candles, up until a couple of start up, stop coup above 9880 target - sloping level.
usd/cad technical analysis by using : average directional movement index
adx : 50.6079
+di : 34.8491
-di : 8.0180
timeframe : 1 hour
time : 1500
date : 19.10.2012
It looks like your broke resistance levels, now of no do not have to think of the south until, dial position to the north, the breakdown of resistance 9880 and consolidate above the moving alligator gave a very strong bullish signal, waiting a couple of near 9950.
The expected impact of the economic data for the Canadian economy appears, and we need to be cautious during the next trading and the need to control the daily closing for the above-mentioned level up attacking the pivotal resistance 0.9885
The expected impact of the economic data for the Canadian economy appears, and we need to be cautious during the next trading and the need to control the daily closing for the above-mentioned level