Thread: Usd/Cad
pair- usd/cad
analysis time frame- m30
the price is making triple top chart pattern having resistance at 1.1310 level and nick line of support at the pivot point 1.1256 level. the macd divergen is higher to lower side so down movement can expected. short with profit target at 1.1180 and stop loss at 1.1330
good luck
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Daily forecast: USDCAD 03 Nov. 2014.
Technical analysis for Daily forecast of USDCAD 03 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 1.15582.
Pivot: 1.12550
Resistance levels
R1 1.13308
R2 1.14066
R3 1.14824
R4 1.15582
Support levels
S1 1.11792
S2 1.11034
S3 1.10276
S4 1.09518
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analysis for today 11 / 3 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle USD/CAD on the date 10 / 31 / 2014
OPEN 1.1185
HIGH 1.1331
LOW 1.1181
CLOSED 1.1260
The third resistance (R3) 1.1331 -( 1.1257 - 1.1181 = 0.0076 x 2 = 0.0153 )= 1.1484
The second Resistance (R2) 1.1257 + 1.1331 - 1.1181 = 1.1407
First resistance (R1) 1.1257 x 2 = 2.2515 - 1.1181 = 1.1334
pivot points 1.1331 + 1.1181 + 1.1260 = 3.3772 / 3 = 1.1257
Support for the first (S1) 1.1257 x 2 = 2.2515 - 1.1331 = 1.1184
Support second (S2) 1.1257 -( 1.1331 - 1.1181 = 0.0150 ) = 1.1107
Third Support (S3) 1.1181 -( 1.1331 - 1.1257 = 0.0074 x 2 = 0.0147 )= 1.1034
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Pair : USDCAD
Major Trend : Neutral
Time Frame : TF H4
Reason : Shadow had been formed long ago in Friday.
Recomm. Poss : Sell limit in resistance 1 -> 1.1315
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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 1.1265 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 1.1273 .
On the other hand if the price penetrated the support at the level 1.1265 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 1.1266 of the next Pivot level.
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Weekly forecast: USDCAD 03-07 Nov. 2014
Technical analysis for weekly forecast for USDCAD 03-07 Nov. 2014. In weekly chart USDCAD is flat. At present USDCAD on the pivot point. It is important to break support or resistance levels to identify the trend. Previous record shows USDCAD buy below from the 4th support level.
Pivot: 1.12355
Resistance levels
R1 1.13503
R2 1.14455
R3 1.15603
R4 1.16750
Support levels
S1 1.11403
S2 1.10255
S3 1.09303
S4 1.08350
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.
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.
The vesrto indicator shows that there is a bearish saturation on the USDCAD last move and we use it to predict a bullish direction for now The chart shows that the price is located above a green level and that is the support level Due to the bullish trend I have suggested that we can make sell possitions with the target located at the support 1.1202 At any opposite signal on the vestro or when the price reachs the 1.1176 level you might start thinking about bearish trend .
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A bullish signal is now live on the Histogram indicator to show a possibility of Upward trend for the USDCAD chart.
Also there is a green line shown on the Market emotion indicator to indicate a positive signal about the market for the current day.
In additional you can see the Green bar formed at the Guru indicator which located above the 0 level then it can be counted as a bullish trend signal on the short term.
Now a quick look on the chart will cause you to find the bullish intersection between the EMA9 and EMA152 to inform you about a buy trade to take a place.
After the previous signals then I guess a bullish trend to occur on this day and I think according to that the target of buy trades can be set to 1.1271 as you can recognize it as the nearest resistance to the current prices.
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After taking a quick look on the chart of USDCAD first thing you have a good buy signal on the Henkin Ashi and up arrow on the chart In the same time a buy signal occurs on the trend session indicator by showing a blue bar at the last candle In additional to a buy cross taking a place on the trend following indicators Snake and T3-Clean which may be a good signal to open a buy possitions at any good place If you decided to buy you should keep an eye on the level 1.1264 as the price bounced from it the last time then you can consider it asa your first resistance to close your order once hitting it
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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