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time frame- M30
the price is rejecting from the resistance at 1.0317 and its also break the support of the moving average. its is falling but may be hold at the pivot point 1.0299. if this support level is break then it will falling more and hit the 1.0270 level. short this with the stop loss at 1.0320
good luck
Our preference: Short positions below 1.035 with targets @ 1.025 & 1.0215 in extension.
Alternative scenario: Above 1.035 look for further upside with 1.0395 & 1.044 as targets.
Comment: as long as 1.035 is resistance, look for choppy price action with a bearish bias.
bearish trend is still dominated as a major.. if today price break pivot area it seems good to sell this pair cause now price had been cross ma line.. seems to me price will towards support 1 1.0273 and also good to put tp there..
The pair intraday analysis at H1 using williams percentage range and moving average are showing the pair on bearish trend. It may continue today. Try to find good resistance and set Short order on it. today SNR :
R3 : 1.0399
R2 : 1.0361
R1 : 1.0377
Pivot : 1.0299
S1 : 1.0275
S2 : 1.0235
S3 : 1.0213
Our view remain bearish for this pair. If price retraced back to 10324 resistance level or 10355 level then we would find a short opportunity.
The pair USD/CAD on the hourly chart correction started up but still too early to talk about a turn, now expect to fall to the level of 1.0277 to decide where and when it bounced off the pivot point, and then we were strengthened to the level of 1.0391 if below go where another 1 the goal is to level 1.0223 it from him a greater likelihood that the upward trend will reverse, and the goal at the top of the first will be at the same level 1.0391
See the first signs of activity of bulls around the horizontal support 0278 - the third attempt to overcome this level for the bears ended in failure, MACD divergence and formed a buy signal, I think the growth will continue in 0360 resistance area, stop and reversal point, below 0265.
today i like to sell this pair @ 1.0300
my stop loss of the day @ 1.0327
half take profit for today @ 1.0280
and further half take profit @ 1.0257
usd/cad market analysis by using : average directional movement
index wilder(14) & average directional movement index(14)
adx wilder(14) level
style : 17.33
+di : 12.49
-di : 22.65
adx(14) levels
adx : 39.52
+di : 8.38
-di : 24.48
time : 1600
date : 25.07.2013
timeframe : 1 hour
USD / CAD pair is still under heavy selling pressure concentrated in the area of moving an alligator, but also visible and the first traces of aggressive buying of long-term about the level of the oblique-point touch 0280, also held the formation of the 2 lower fractals + RSI has formed a bullish divergence, there is a high probability of growth .
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