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Bulls continue to attack 1.1000 figure and is not going to give up their positions, as much as moving an alligator fulfill the role of the trend lines, interestingly below the red sliding pair is not as long as the trend more signals than the south but still lacks a single purchase breakdown zone fractal upper (resistance 1.1000).
In recent days, a couple very strongly to the north and now see that paint a very nice flag with horizontal resistance level ... so that when it is expected that the breakdown of the price should continue to fly as she had done before, in the past few days ...:yahoo:
http://www5.0zz0.com/2013/01/28/20/262033959.gif
we can see in the 4h chart
the pair will go down to fibo 23.6
I see the pair will go to down way to 1.0033
stochastic refers that the pair will go down
so our target sell from 1.0064 and our target will 20pips
Good luck
I did not always trade CAD/USD,because this is a very volatile currency whenever i make analysis towards this currency pair it does not always have a directional movement,it is preferable for me to do scaping to make money in this currency.
last day price is making a good hanging man candlestick pattern this will be a signal that price will may be move to downside. in h1 time frame the price level 1.0105 is also provide a strong resistance this may be not break. so can take short position with target 1.0034 and stop loss is 1.0105
Analysis result USD CAD 29-01-2013
DOWN TREND (STRONG)
Signal 20 pips : SELL @ 1.0053 Set S/L @ 1.0083 Set TP @ 1.0033
Signal Breakout : SELL @ 1.0033 Set S/L @ 1.0063 Set TP @ 1.0013
Reversal Prediction LOW : 1.0008
USDCAD goes lower and now trying to break support level at 1.0047, if it successfully break, the pair may continue down towards 1.0034 and may extends to 1.0000. But if it fails to break the support level, it is potentially bounce up towards 1.0086
long postions at 1.0035 with 1.0080 and 1.0110 as next targets
the breakout of 1.0000 will call for arebound towards 0.9960