Usd/Cad

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

adx : 18.4736
+di : 33.0005
-di : 16.1322
timeframe : 1 hour

time : 1800
date : 16.11.2012

Scenario for next week
Elliott: irregular flat correction up 1.0075
There are initial signs of a good corrective recovery towards 1.0034 or even 1.0050. Supports at 0.9998 and 0.9978 zone.
Technical points
Key point 1.0051
Entry point 1.0046
Elliott 0.9875
Closing 1.0010
Projection 1.0109
Trendline 0.9985
Trendline 1.0096
Supports / Resistances
Res 2 1.0089
Ex-High 1.0057
Res 1 1.0050
Pivot 1.0017
Sup 1 0.9978
Ex-Low 0.9985
Sup 2 0.9946

Trend on look bearish. On my see - this can be more bearish if the seller here then can break down too to that 23.6 fibo (bellow price now - near 1.0002).

USD/CAD lost some upside momentum last week even though it edged higher to 1.0056. Nonetheless, with 0.9947 minor support intact, further rally is still expected. Current rebound from 0.9633 should target 61.8% retracement of 1.0455 to 0.9633 at 1.0141 next. On the downside, though, below 0.9947 will flip bias back to the downside for 0.9874 support. Break will argue that rebound from 0.9633 is finished and will bring deeper fall.

Scenario for today
Elliott: correction zigzag 0.9966
It looks more likely that it would rise to 1.0046 - 1.0081 from 1.0004 or 0.9986. After which a downside move is expected.
Warning: End of trend - Engulfing pattern
Technical points
Key point 0.9993
Entry point 1.0025
Elliott 1.0057
Closing 1.0010
Projection 0.9987
Trendline 1.0025
Trendline 1.0025
Supports / Resistances
Res 2 1.0081
Ex-High 1.0057
Res 1 1.0046
Pivot 1.0021
Sup 1 0.9986
Ex-Low 0.9997
Sup 2 0.9962

Today’s technical analysis

Resistance 3- 1.0105
Resistance 2- 1.0081
Resistance 1- 1.0046
Pivot point- 1.0021
Support 1- 0.9986
Support 2- 0.9961
Support 3- 0.9926

ON Friday In day chart pair is making a doji candlestick pattern and now stoch is also showing overbought. So down movement is expected if price break 0.9986 we can short with 1.0046 stop loss.

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

adx : 11.1766
+di : 13.5267
-di : 18.8257
timeframe : 1 hour

time : 0400
date : 19-11-2012

USDCAD is in a bearish trend. It seems that the pair is going down towards 0.9986 and may go lower to 0.9961. However if price can break its daily pivot at 1.0021, the pair have possibility to rise to 1.0046 or higher.

Usd/cad technical analysis for 19.11.2012 by using : Auto pivot indicator.

resistance 3:1.0114
resistance 2:1.0087
resistance 1:1.0049

pivot point :1.0022

support 1:0.9984
support 2:0.9957
support 3:0.9919

I think USDCAD is trying to reach the support level at 0.9992 now. Then, if USDCAD can break that support level, this pair may continue falling to the next support level at 0.9927. I think the possibility of support breaking is big enough if I see the last Friday's movement.