Usd/Cad

While talking about the south early, pay attention to cost a couple of support was not allowed below 9940 (it was just a false breakdown, and the bulls were able to return a pair of north again), and then went on the growth rate, the trend continues to the north and to follow him, waiting for a breakthrough 200 moving to purchase.

Intraday bias in USD/CAD remains neural as consolidation from 1.0019 short term top continues. Deeper retreat might be seen but downside contained by 0.9888 minor support and bring another rise. Break of 1.0019 will extend the rally from 0.9633 to 61.8% retracement of 1.0455 to 0.9633 at 1.0141 next. Though, sustained break of 0.9888 will argue that rebound from 0.9633 has completed and will turn focus back to 0.9762 support instead.

http://img641.imageshack.us/img641/2435/imagegy.gif

Bearish trend continued control over the trading USD / CAD, where ****ually approaching key support 0.9885, which are waiting to test the price its strength soon

Stochastic continues the downward trend on the daily time frame, we are encouraged by the likelihood of a downward trend for the coming days, required to achieve first break of the support mentioned above, along with stability below 1.0030

Currently testing the bullish market to 0.9976. allow for further market correction down to 0.9935 to 0.9912 as the area is expected to decline.

The trading range for this week is among the key support at 0.9625 and key resistance at 1.0135.
The short term trend is expected to the downside with daily closing below 1.0125 targeting areas of 0.9400.

http://www.dohaup.com/up/2012-11-05/admin1353044976.png

The number of new building permits issued in Canada fell significantly more-than-expected in September, erasing the previous month’s strong gain, official data showed on Monday.

In a report, Statistic Canada said the number of new building permits issued dropped by a seasonally adjusted 13.2% in September, compared to expectations for a 3.0% decline.

August’s figure was revised to a 9.5% gain from a previously reported increase of 7.9%.

The total value of building permits fell to CAD6.5 billion in September. The decline was mainly the result of the non-residential sector, where the value of permits in all three components fell.

Following the release of the data, the Canadian dollar held on to losses against its U.S. counterpart, with USD/CAD gaining 0.13% to trade at 0.9971.

---------- Post added at 11:12 PM ---------- Previous post was at 11:11 PM ----------

The U.S. dollar hit a session high against the Canadian dollar on Monday, following weaker-than-expected Canadian building data, while uncertainty ahead of Tuesday’s U.S. presidential elections also boosted safe haven demand.

USD/CAD hit 0.9976 during early U.S. trade, the session high; the pair subsequently consolidated at 0.9973, rising 0.16%.

The pair was likely to find support at 0.9920, Friday’s low and resistance at 1.0012, Friday’s high.

Demand for the greenback was underpinned as investors focused on the outcome of Tuesday’s U.S. elections, with opinion polls pointing to a close race between incumbent President Barack Obama and Republican challenger Mitt Romney.

Investor confidence was also hit by concerns over whether Greece’s parliament would approve a package of spending cuts and tax hikes in a vote on Wednesday, which will determine if Athens receives its next tranche of financial aid.

In Canada, official data showed that the number of building permits issued in September fell significantly more-than-forecast as a result of declines in all three components of the non-residential sector.

Statistics Canada said building permits fell by fell by 13.2% in September, compared to expectations for a 3% decline.

The U.S. dollar remained supported after official data on Friday showed that the U.S. economy added 171,000 jobs in October, beating forecasts for an increase of 125,000 and boosting the U.S. economic outlook.

usd/cad technical analysis by using : average directional movement index

adx : 20.1505
+di : 15.7911
-di : 10.7973
timeframe : 1 hour

time : 1900
date : 05.11.2012

The trading range for this week is among the key support at 0.9625 and key resistance at 1.0135.

The short term trend is expected to the downside with daily closing below 1.0125 targeting areas of 0.9400.

On the hourly chart with USD / CAD shows some decline, but levels are not working well there are a lot of tails ... but now we see that sort of formed a good resistance at 0.9970 ... and now the protorgovki ... so that when the game is on the south where to put the stop light ... and you can count on a target of 0.9900 ..

Elliott: flat correction down 0.9908
Corrective dips should ideally halt near 0.9952 or 0.9944 for one more thrust upwards towards 0.9970 - 0.9980 area or 0.9997 in extention. Fall below 0.9924 puts it back on a downward path.
Warning: Harami
Technical points
Key point 0.9968
Entry point 0.9966
Elliott 1.0020
Closing 0.9963
Projection 0.9939
Trendline 0.9971
Trendline 0.9966
Supports / Resistances
Res 2 0.9997
Ex-High 0.9977
Res 1 0.9980
Pivot 0.9960
Sup 1 0.9944
Ex-Low 0.9941
Sup 2 0.9924