Eur/Cad

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

adx : 25.4646
+di : 28.8700
-di : 9.6220
timeframe : 1 hour

time : 1900
date : 26.10.2012

EURCAD next week

Elliott: impulse wave up 1.3005
There are initial signs of a good corrective recovery towards 1.2961 or even 1.3014. Supports at 1.2857 and 1.2804 zone.
Warning: End of trend
Technical points
Key point 1.2962
Entry point 1.2915
Elliott 1.2576
Closing 1.2909
Projection 1.3093
Trendline 1.2800
Trendline 1.2962
Supports / Resistances
Res 2 1.3119
Ex-High 1.3014
Res 1 1.3014
Pivot 1.2909
Sup 1 1.2804
Ex-Low 1.2804
Sup 2 1.2700

Eur/cad technical analysis for 29.10.2012 by using : Auto pivot indicator.

resistance 3:1.3018
resistance 2:1.2973
resistance 1:1.2935

pivot point :1.2890

support 1:1.2852
support 2:1.2807
support 3:1.2769

Elliott: flat correction up 1.2983
It should try higher up to 1.2918 - 1.2943. Entry point 1.2894 or 1.2877. After this rise, a correction is expected.
Warning: Low Zone - Engulfing pattern
Technical points
Key point 1.2932
Entry point 1.2887
Elliott 1.2804
Closing 1.2909
Projection 1.2934
Trendline 1.2889
Trendline 1.2889
Supports / Resistances
Res 2 1.2977
Ex-High 1.2928
Res 1 1.2943
Pivot 1.2894
Sup 1 1.2860
Ex-Low 1.2845
Sup 2 1.2811

Pair EUR / CAD went very well on top and found itself in 1300 formed a resistance with a figure head n shoulders ... In my opinion, the market is now more go down, so if we break through the support level 1.2800 1.2600 .. the goal is even feasible ...

PY action is expected to be relatively limited ahead of tomorrow's Bank of Japan decision, when BNZ expects the central bank to announce new easing in the form of an additional ¥10t to the BoJ's AP program. "Still, a result on our expectations may still disappoint the market, putting additional pressure on the JPY to rise," comments Mike Jones, Currency Strategist at BNZ. "Certainly, a sustained return to the lofty heights above 80.00 on USDJPY looks unlikely in the absence of an all-guns-blazing easing from the BoJ."

Strength can extend to 1.2719 or even higher than 1.2841 as declines are expected to find support at 1.2495 or 1.2392 zone. A fall below 1.2149 could turn it bearish. It should try higher up to 1.2918 - 1.2943. Entry point 1.2894 or 1.2877. After this rise, a correction is expected.

Finally, daily pivot level (1.2889) can hold price that move down until now. This level become a barrier for twice when price try to break it. upward medium trend still affect for price so that down far. And price predicted will retrace up but limited.

The loonie, as the Canadian dollar is also known, was little changed against the euro, with EUR/CAD inching up 0.03% to 1.2902.

The U.S. dollar remained little changed after official data showed that the U.S. core personal consumption expenditure index ticked up 0.1% in September, matching expectations, while personal spending rose 0.8%, beating forecasts for a 0.6% increase.

Eur/cad technical analysis for 30.10.2012 by using : Auto pivot indicator.

resistance 3:1.2977
resistance 2:1.2951
resistance 1:1.2933

pivot point :1.2907

support 1:1.2889
support 2:1.2863
support 3:1.2845