Thread: Usd/Cad
pair- usd/cad
time frame analysis- m15
the price is making double top chart pattern with haing resistane at 1.2020 level. the down movement of the price is break the support at 1.1970 level but the rsi is showing oversold. long with profit target at 1.2000 and stop loss at 1.1930
good luck
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The USDCAD pair is approaching the support level of 1.1944
USDCAD
May 13, 2015, 10:36
Sell on a level breakthrough of 1.1944 with 1.1804 target. Stop loss = 1.2010.
Reason for the trading strategy
The rising prices for WTI crude oil to 61.3 dollars and the reduction of the world's reserve currency paired with the euro are supporting the Loonie. From a technical point of view, the breakthrough of the lower limit of the 1,1944-1,2203 range will serve as a signal for opening short positions in the USD/CAD pair.
USDCAD, H4
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W1
D1
H4
H1
M30
M15
M5
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Spoiler:
Daily Forecast
Major Trend: Bearish
Time Frame: H1
Reason: the market is still showing bearish pattern still dominant. The possibility of market touched 261.8 Fibonacci at 1.1845 price
Recommendation: Sell
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Technically: - Frame four hours on the faces need to climb represented a downtrend line is composed of more than Artkazat despite a breakthrough.
So it may pay for the continuation of the decline towards consisting of Artcasen on the price of 1.1940 support and breaking it pays to almost 1.1800.
But the status of the pair returned to land before the targeting of subsidies that we will see the rise of a new breakthrough towards the status of 1.2205 downtrend only.
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US dollar versus the Canadian dollar appears more sideway trading around SMA 50, nor the expected bearish trend persists and effective depending on the stability below 1.2200 and 1.2360 levels, waiting for a break of 1.1985 to confirm the extension of the corrective wave descending to 1.1725 zones.
SMA 50 continues to form a negative pressure supports the proposed continuation of the bearish trend.
Expected trading range for today between 1.1950 support and 1.2200 resistance range
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pair- usd/cad
time frame analysis- m15
price is continue rejecting down from the resistance trend line at 1.2100 level and hold at the support 1.2055 level. the rsi indicator is moving out from the oversold level 30 so price may movement up. long with take profit at 1.2080
good luck
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Daily Forecast
Major Trend: Bullish
Time Frame: H1
Reason: Possible targets are at 1.2192 Fibonacci 261.8 due to be at that point. Seen yesterday, still indicating a bullish pattern before the closing
Recommendation: Buy
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Technically still dollar CAD is trading within the descending triangle on the Frame four hours and specifically about the falling trend of the triangle, so the pair candidate for the drop from these levels down, and the remaining opportunity to go short with a broken 1.1940 support is the opportunity best suited for trading on the pair, is worth mentioning that in the case has been breached downtrend to the highest pair will go directly until 1.2180 levels at an average simple movement 120 in addition to the weekly resistance and then will be determined by the point of the next pair is whether the break-up or bounce down
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USDCAD pair traded positively to settle about 50 moving average of new, note that while Stochastic provides a negative signal at the intersection of the time frame of four hours.
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