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US dollar versus loonie succeeded to confirm the breach of 1.2310 yesterday, rushes up to a strong, surpassing the 1.2400 barrier, to continue the positive effect of our head and shoulders already completed the support price to rise further, pending targeting 1.2615 areas next major station.
Price gets good support from the SMA 50, with attention to the continuation of the current bullish wave depends on the stability of trading above the 1.2310 and 1.2245 levels.
Expected trading range for today between 1.2310 support and 1.2600 resistance range
pair- usd/cad
time frame analysis- m15
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the rsi indicator falling down side from the overbought level 70 and the price up movement is rejecting down from resistance at 1.2480 level. if this is move below the support at 1.2440 level then short with profit target at 1.2390 and stop loss at 1.2500
good luck.
Traders may soon see a period of weakness in the short term on an intraday basis, allowing some calm to the situation overbought. SMA SMA 50 resides above SMA 200 on the chart for Frame time, at a great distance from the real ATR-term average daily index. This indicates the existence of a state of the upside. Long-term traders who follow Stochastic on Frame 4 hours, which resides above the 50% levels, do not necessarily need to liquidate their long positions, but Stochastic indicates the time Frame increasingly it may be necessary to do so soon.
The US dollar rose to its highest level in a month against its Canadian counterpart on Tuesday, after the release of durable goods orders from the United States, with continued expectations for higher US interest rates in the coming months, which provided support for the dollar.
It has USD / CAD rose to 1.2416 during US trade early, the highest level since April 15 / April Husband and cohesion later at 1.2415, rising 0.82%.
In the short term, the USDCAD pair may fall lower than the 1.244 level.
USDCAD
Mag. 28, 2015, 09:34
Sell on a level breakthrough of 1.2440 with 1.2394 target. Stop loss = 1.2485.
Reason for the trading strategy
Yesterday, the Bank of Canada kept its key interest rate unchanged at 0.75%, as expected. According to the Bank of Canada, the current course of the monetary policy is more than acceptable at the moment. The country's inflation is kept at 0.8%, being closer to the lower boundary of the targeted range of 1-3%. The regulator believes it is connected with the low energy prices. The news is neutral for the Loonie. Today, it is worth paying attention to the publication of Canada's balance of payments for Q1 2015.
USDCAD, H1
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Price break upward trend levels, and the levels of support at 1.2435 and closing prices under them It is the opportunity to sell the goals of up to 1.2400 - 1.2375.
Simply called consolidation for the pair USDCAD and not nice to take a new position here, if the pair continues weak motion there between 1.2395 to 1.2491.
Main ye thread USD/CAD ke discussion ke liye bana raha hain. Sabhi members ko ya post karne ke liye swagat karta hoon.
US dollar versus the Canadian dollar continue to make a positive trading just shy of the 1.2500 barrier, to keep the positive impact of the head and shoulders pattern exists already completed and effective, and that the full targets are around 1.2615 exist.