USD/CAD
http://img6.imageshack.us/img6/553/snapshot14y.png
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Pivot : 1.0065
Our preference : Short positions below 1.0065 with targets @ 1.0005 & 0.999 in extension.
Alternative scenario : Above 1.0065 look for further upside with 1.0085 & 1.01 as targets.
Comment : the RSI is capped by a bearish trend line.
http://dl.dropbox.com/u/51561036/scr...213-012442.png
cad is not moving more than 70/80 pips on daily basis because of lack of news.1.0085 provides with strong resistance and drop so many times .selling side is giving away 70 pips now time for buying opportunity.buy @ 1.0012 target 1.0072
the chart is showing that the pair has succeeded in closing it's daily candle above level 0.9900 , and that's mean the up trend is still standing and the pair might head to 0.9925 and then 0.9950 :)))
elliott flat correction down 0.9953
market should not go lower than 1.0008 - 0.9989 after this move down it should go up to 1.0037 - 1.0047 area in imminent end of bearish move
technical points
key point 0.9984 - entry point 1.0017 - elliott 1.0100 - closing 1.0008 - projection 0,9979 - trend line 1.0032
Spoiler:
The position of the current price is below the 50 EMA on the hourly chart, momentum is bearish
The position of the current MACD cross the line above the area 0, the momentum is bearish
Trend today: bullish
Target today:0.9969
This pais shows some monetum in the downtrend and we can make here a sell call and the target is 0.9952
M30
price is below 1.0041 pivot shows today tend to fall. MA crosses down 10 and 20 show the trend down. however RSI Not Saturated Buy. Will go down to 0.9997 or S1 pivot toward first and then down towards the S1??
Usd/cad analysis for 02.13.2013 by using : pivot indicator.
r3: 1.0133
r2: 1.0110
r1: 1.0066
pivot : 1.0043
s1: 0.9999
s2: 0.9976
s3: 0.9932
The price is still below daily pivot 1.0043 and moving between 1.0016 and 1.0026. So, i expect price will breakdown the lower barrier and touch support 0.9999.