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Daily technical analysis for USDCAD 20/05/2014
USDCAD should test 1.0898 area after which a sell off down to 1.0858 or extended to 1.0842 area is expected
Key Point 1.0886
Entry Point 1.0868
Trendline 1 1.0871
Trendline 2 1.0863
Support 1 1.0858 Support 2 1.0842
Resistance 1 1.0883 Resistance 2 1.0892
I achieved my take profit in my last long trade on usd/cad.I earned 22 pips from my quick trade on usd/cad on friday.Right now I am not holding any other position on this pair.
I think on moday,this pair will open a little bit up as USD closed +ve on friday night
analysis for today 5 / 20 / 2014
USD/CAD
Resistance : R1 1.0924 R2 1.0949 R3 1.0969 R4 1.0999
Support : S1 1.0800 S2 1.0775 S3 1.0755 S4 1.0725
Open : 1.0861
High : 1.0875
Low : 1.0849
Running Price : 1.0873
Strategy : BUY at the level 1.0873 stop loss at the level 1.0800 target take profit at the level 1.0969 or at the level 1.0999
USDCAD still tries to break null target at 1.08779. If price manage to be closed above this level, the pair will continue rise to touch reverse line at 1.08895, then starts to go lower.
Daily analysis for USDCAD
USDCAD common flat correction up 1.0927, new daily high close to first daily resistance 1.0883
Elliott 1.0850
Closing 1.0875
Ex-Low 1.0850
Ex-High 1.0876
Support 1 1.0859
Support 2 1.0843
Resistance 1 1.0884
Resistance 2 1.0893
pair- usd/cad
chart analysis time frame- m15
http://i57.tinypic.com/158bms9.jpg
the price is moving in up trend side with breaking the daily resistance. now the stoch indicator is showing overbought and the price is also at the third level of resistance at 1.0907 so now rejection of price can expected. short with the stop loss at 1.0920 and take profit at the 1.0885
good luck.
USD/CAD
analysis for today 5 / 20 / 2014
Resistance 3 1.0979
Resistance 2 1.0949
Resistance 1 1.0929
Pivot Point 1.0861
Support 1 1.0795
Support 2 1.0775
Support 3 1.0745
BUY STOP 1.0929 STOP LOSS 1.0795 TAKE PROFIT 1.0949
SELL STOP 1.0795 STOP LOSS 1.0929 TAKE PROFIT 1.0775
Daily technical analysis for USDCAD 21/05/2014
USDCAD corrective dips should halt near 1.0854 for one more thrust upwards towards 1.0912. Stop loss below 1.0836 zone.
Key Point 1.0921
Entry Point 1.0901
Trendline 1 1.0872
Trendline 2 1.0893
Support 1 1.0881 Support 2 1.0854
Resistance 1 1.0925 Resistance 2 1.0943
analysis for today 5 / 21 / 2014
USD/CAD
Resistance : R1 1.0945 R2 1.0970 R3 1.0990 R4 1.1020
Support : S1 1.0841 S2 1.0816 S3 1.0796 S4 1.0766
Open : 1.0873
High : 1.0916
Low : 1.0870
Range : 46 Pips
Running Price : 1.0907
Strategy : SELL at the level 1.0907 stop loss at the level 1.0945 target take profit at the level 1.0796 or at the level 1.0766
analysis for today 5 / 21 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle USD/CAD on the date 5 / 20 / 2014
OPEN 1.0873
HIGH 1.0916
LOW 1.0870
CLOSED 1.0906
The third resistance (R3) 1.0916 -( 1.0897 - 1.0870 = 0.0027 x 2 = 0.0055 )= 1.0971
The second Resistance (R2) 1.0897 + 1.0916 - 1.0870 = 1.0943
First resistance (R1) 1.0897 x 2 = 2.1795 - 1.0870 = 1.0925
pivot points 1.0916 + 1.0870 + 1.0906 = 3.2692 / 3 = 1.0897
Support for the first (S1) 1.0897 x 2 = 2.1795 - 1.0916 = 1.0879
Support second (S2) 1.0897 -( 1.0916 - 1.0870 = 0.0046 ) = 1.0851
Third Support (S3) 1.0870 -( 1.0916 - 1.0897 = 0.0019 x 2 = 0.0037 )= 1.0833