Usd/Cad

usd/cad technical analysis by using : adx

adx : 18.1574
+di : 15.9994
-di : 17.3763
timeframe : 1 hour
date : 14.02.13

the price is rejected form the resistance at 1.0070 with making a bearish engulfing candlestick patter, now it will try to move the support at 0.9993. if the support is break then it will move to 0.9930. at the time stoch and cci are overbought so little bit up movement is possible.

http://www14.0zz0.com/2013/02/14/13/260689292.gif


hi

how are you

we can see in the 1h chart

the pair can not close up the broken down trend line

I see the pair will go to down way to 0.9908

stochastic refer that the pair will go down

so our target sell from 1.0008 and our target will 100pips

Good luck
:respect::good::accute::peace::yahoo:

elliott flat correction down 0.9972
it should be subject to more weakness towards 1.0006 after which a correction to above 1.0037 is anticpated abreak of 0.994 is bearish
technical points
key point 0.996 entry point 1.0009 - elliott 1.0087 - closing 1.0018 - projection 0>992 - trend line 1.0044

date- 15-2-2013
technical pivot point are-

resistance 3 - 1.0046
resistance 2- 1.0035
resistance 1- 1.0022

pivot point- 1.0011

support 1- 0.9998
support 2- 0.9987
support 3- 0.9974

USDCAD didn't move significantly yesterday. But basically, this pair still in bearish sentiment and has a potential to reach the support level at 0.9992 and break that support. But if USDCAD can rise and break the resistance level at 1.0033, this pair may goes up to the higher resistance level at 1.0071.

Spoiler:

http://puu.sh/22Kfw

This pair still moving flat between Resistance 1.0021 and Support 0.9999, only 22 points different here. So, i suggest to wait untill the price move away from the range to take more actions. Or doing scalping since its still sideway.

Spoiler:

http://i.imgur.com/LzPIrN0.png

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: bearish
Target today:0.9970

long signal can see by the stoch and cci indicator in h1 time frame but now it is at the resistance sit at 1.0022 if this resistance is break then we must wait to break the other resistance at 1.0035. we can long this pair with the target 1.0035 and stop loss is 0.9998

elliott flat correction down 0.9955
one more dip to 1.0005 or 0.9998 more dip is likely followed by a grind higher to 1.0017 - 1.0023 after which it can resume it is down trend
technical points
key oint 0.992 - entry point 0.9998 - elliott 1.0087 - closing 1.0009 - trend line 1.008 - trend line