Thread: Usd/Cad
pair- usd/cad
analysis time frame- m30
the up movement of the price is rejecting down side from the resistance at 1.1451 level and falling down side with the macd short signal. the price may hold at the daily support level three 1.1321 with a correction may be hit 1.1240 level. hold the short entry with stop loss at 1.1420
good luck.
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On our USDCAD pair today we can see that the price is taking a upward direction and thats due to the blue dots below the candles if the price kept its position higher than the strong support 1.1146 which happens to be a weekly pivot level then I can assume that price would be taking a north direction till it reaches the weekly pivot resistance 1.1357 .
On the other hand if the price penetrated the support at the level 1.1146 and red dots appeared indicating bearish signals then I can assume that the price will be taking a south direction till it reaches the support of the level 1.1027 of the next Pivot level.
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Daily forecast: USDCAD 07 Nov. 2014.
Technical analysis for Daily forecast of USDCAD 07 November, 2014. In Daily chart USDCAD shows bullish trend. At present USDCAD above the pivot point and going towards the 1st resistance level. If 1st resistance level breaks then next strong resistance level is 1.15509.
Pivot: 1.14142
Resistance levels
R1 1.14504
R2 1.14784
R3 1.15146
R4 1.15509
Support levels
S1 1.13862
S2 1.13500
S3 1.13220
S4 1.12941
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analysis for today 11 / 6 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle USD/CAD on the date 11 / 5 / 2014
OPEN 1.1385
HIGH 1.1442
LOW 1.1378
CLOSED 1.1423
The third resistance (R3) 1.1442 -( 1.1414 - 1.1378 = 0.0036 x 2 = 0.0073 )= 1.1515
The second Resistance (R2) 1.1414 + 1.1442 - 1.1378 = 1.1478
First resistance (R1) 1.1414 x 2 = 2.2829 - 1.1378 = 1.1451
pivot points 1.1442 + 1.1378 + 1.1423 = 3.4243 / 3 = 1.1414
Support for the first (S1) 1.1414 x 2 = 2.2829 - 1.1442 = 1.1387
Support second (S2) 1.1414 -( 1.1442 - 1.1378 = 0.0064 ) = 1.1350
Third Support (S3) 1.1378 -( 1.1442 - 1.1414 = 0.0028 x 2 = 0.0055 )= 1.1323
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Spoiler:
Daily Forecast
Pair: USDCAD
Major Trend: NEUTRAL
Time Frame: H4
Reason: 3 Bullish Candle has been formed. RSI back to 80. Possible line price will retest resistance at 1.1455. If the price breaks will go to 1.1480
Recommendation: BUY with a target of 1.1455
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pair- usd/cad
analysis time frame- m30
the price is break the support of the pivot point at 1.1407 level but hold at the 1.1365 level and again up side. if this is move above the 1.1470 level then its will be hit the 1.1500 level. hold the long entry with stop loss at the 1.1330
good luck.
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analysis for today 11 / 6 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle USD/CAD on the date 11 / 5 / 2014
OPEN 1.1409
HIGH 1.1465
LOW 1.1370
CLOSED 1.1384
The third resistance (R3) 1.1465 -( 1.1406 - 1.1370 = 0.0036 x 2 = 0.0073 )= 1.1538
The second Resistance (R2) 1.1406 + 1.1465 - 1.1370 = 1.1501
First resistance (R1) 1.1406 x 2 = 2.2813 - 1.1370 = 1.1443
pivot points 1.1465 + 1.1370 + 1.1384 = 3.4219 / 3 = 1.1406
Support for the first (S1) 1.1406 x 2 = 2.2813 - 1.1465 = 1.1348
Support second (S2) 1.1406 -( 1.1465 - 1.1370 = 0.0095 ) = 1.1311
Third Support (S3) 1.1370 -( 1.1465 - 1.1406 = 0.0059 x 2 = 0.0117 )= 1.1253
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Daily forecast: USDCAD 06 Nov. 2014.
Technical analysis for Daily forecast of USDCAD 06 November, 2014. In Daily chart USDCAD shows bearish trend. At present USDCAD below the pivot point and going towards the 1st support level. If 1st support level breaks then next strong support level is 1.11937.
Pivot: 1.14063
Resistance levels
R1 1.14427
R2 1.15014
R3 1.15378
R4 1.15741
Support levels
S1 1.13476
S2 1.13112
S3 1.12525
S4 1.11937
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Daily Forecast
Pair : USDCAD
Major Trend : BULLISH
Time Frame : H4
Reason: RSI has dropped from the overbought area. 1.1407 pivot point can not be pierced.
Recommendation: Sell with a target of 1.1370 or if it will continue to break 1.1357
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On our USDCAD pair today we can see that the price is taking a downward direction and thats due to the red dots above the candles if the price kept its position lower than the strong resistance 1.1357 which happens to be a weekly pivot level then I can assume that price would be taking a south direction till it reaches the weekly pivot support 1.1146 .
On the other hand if the price penetrated the resistance at the level 1.1357 and blue dots appeared indicating bullish signals then I can assume that the price will be taking a north direction till it reaches the resistance of the level 1.1449 of the next Pivot level.
.
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
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